Gold Royalty Corp. (NYSEAMERICAN:GROY) Stock Has Average Price Target of $5.64 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Gold Royalty, with six buy ratings and one hold. The average 12-month price target is $5.64, above the stock’s reported $3.13 price.
• Gold Royalty shares were trading down 1.6%, with a 52-week range of $2.45 to $5.45 and a market capitalization of approximately $722 million. The company reported quarterly EPS of $0.01, matching estimates, while revenue of $7.93 million fell short of expectations.
• Institutional investors own 33.75% of the company, with several hedge funds adding or initiating positions during the second quarter. Gold Royalty operates as a precious-metals royalty and streaming company focused primarily on gold assets in the Americas.

Shares of Gold Royalty Corp. (NYSEAMERICAN:GROY - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.64.

A number of research analysts recently issued reports on the stock. Scotiabank decreased their target price on shares of Gold Royalty from $6.00 to $5.75 and set an "outperform" rating for the company in a research report on Tuesday, July 14th. HC Wainwright lowered their price target on shares of Gold Royalty from $7.75 to $7.00 and set a "buy" rating on the stock in a report on Thursday, August 6th.

Gold Royalty Trading Down 1.6%

Shares of NYSEAMERICAN:GROY opened at $3.13 on Friday. Gold Royalty has a twelve month low of $2.45 and a twelve month high of $5.45. The company has a market cap of $722.44 million, a PE ratio of 313.31 and a beta of 0.99. The company's 50 day moving average is $3.10 and its 200 day moving average is $3.21.

Gold Royalty (NYSEAMERICAN:GROY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $7.93 million during the quarter, compared to analysts' expectations of $8.34 million. Gold Royalty had a net margin of 6.65% and a return on equity of 0.68%. Equities research analysts predict that Gold Royalty will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of Gold Royalty

Hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new stake in Gold Royalty during the second quarter worth about $136,000. Groupe la Francaise lifted its holdings in Gold Royalty by 5.9% in the second quarter. Groupe la Francaise now owns 1,800,000 shares of the company's stock valued at $4,972,000 after acquiring an additional 100,000 shares during the period. AXQ Capital LP purchased a new stake in Gold Royalty in the 2nd quarter worth approximately $29,000. NINE MASTS CAPITAL Ltd purchased a new stake in Gold Royalty in the 2nd quarter worth approximately $77,000. Finally, Prospect Financial Group LLC acquired a new stake in shares of Gold Royalty during the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 33.75% of the company's stock.

Gold Royalty Company Profile

Gold Royalty Corp. (NYSE American: GROY) is a precious-metals royalty and streaming company. Rather than operating mines directly, the company provides financing to mining and exploration companies in exchange for contractual interests in future production, such as royalties, streams and other mineral-rights payments.

Its portfolio is focused primarily on gold properties in the Americas, with exposure to mining districts in the United States, Canada and Mexico. Gold Royalty's interests may cover producing, development-stage and exploration properties, allowing the company to participate in potential mineral production without bearing the direct operating and capital costs associated with owning and running mines.

Gold Royalty was established as part of the growth of the modern precious-metals royalty sector and became publicly listed in 2021.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.