Gold Royalty Corp. (NYSEAMERICAN:GROY) Stock Has Average Price Target of $5.38

Key Points

• Analyst sentiment is bullish: All eight analysts covering Gold Royalty rate it Buy or Strong Buy, with an average 12-month price target of $5.38.
• Shares opened at $2.90, below the average analyst target; recent research included Zacks upgrading the stock to Strong Buy and HC Wainwright trimming its target to $7.00 while maintaining a Buy rating.
• Quarterly results met expectations: Gold Royalty reported EPS of $0.02 and revenue of $10.25 million, matching analyst consensus.

Gold Royalty Corp. (NYSEAMERICAN:GROY - Get Free Report) has been assigned an average rating of "Buy" from the eight analysts that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $5.38.

Several research analysts have recently weighed in on GROY shares. Zacks Research upgraded Gold Royalty from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 5th. TD set a $4.00 price target on Gold Royalty and gave the company a "buy" rating in a report on Thursday, October 8th. HC Wainwright cut their price target on Gold Royalty from $7.75 to $7.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, TD Securities initiated coverage on Gold Royalty in a research report on Thursday, October 8th. They set a "buy" rating and a $4.00 price objective on the stock.

Institutional Trading of Gold Royalty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its position in shares of Gold Royalty by 84.8% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 23,978 shares of the company's stock valued at $72,000 after acquiring an additional 11,000 shares during the last quarter. State Street Corp grew its holdings in shares of Gold Royalty by 13.7% in the third quarter. State Street Corp now owns 122,022 shares of the company's stock valued at $366,000 after purchasing an additional 14,682 shares during the period. CenterBook Partners LP increased its position in Gold Royalty by 87.6% during the third quarter. CenterBook Partners LP now owns 1,003,355 shares of the company's stock worth $3,010,000 after purchasing an additional 468,543 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in Gold Royalty during the third quarter worth about $41,000. Finally, U S Global Investors Inc. acquired a new stake in Gold Royalty during the third quarter worth about $5,125,000. 33.75% of the stock is owned by institutional investors and hedge funds.

Gold Royalty Trading Down 1.4%

NYSEAMERICAN:GROY opened at $2.90 on Friday. The company has a market cap of $669.35 million, a P/E ratio of 72.52 and a beta of 1.15. Gold Royalty has a twelve month low of $2.45 and a twelve month high of $5.45. The company's 50-day moving average price is $3.04 and its 200-day moving average price is $3.33.

Gold Royalty (NYSEAMERICAN:GROY - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $10.25 million during the quarter, compared to analysts' expectations of $10.25 million. Gold Royalty had a net margin of 22.58% and a return on equity of 1.24%. On average, analysts expect that Gold Royalty will post 0.05 earnings per share for the current year.

About Gold Royalty

Gold Royalty Corp. is a precious metals royalty company focused on acquiring and managing royalties and other interests in mining projects. Rather than operating mines itself, the company receives payments or other benefits tied to production or revenue from properties in its portfolio. Its interests are concentrated in the Americas, including projects in the United States, Canada and other parts of the region. The portfolio includes royalties on properties at different stages of development, from exploration and construction to production.

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