Gold Royalty Corp. (NYSEAMERICAN:GROY) Stock Has Consensus Price Target of $5.38 According to Brokerages

Key Points

• Analysts rate Gold Royalty “Moderate Buy”: Seven of eight analysts recommend buying the stock, while one has a hold rating. The consensus 12-month price target is $5.38, well above the reported $2.92 opening price.
• Gold Royalty’s shares have traded between $2.45 and $5.45 over the past year, with a market capitalization of approximately $674 million. The company met quarterly earnings expectations at $0.01 per share, though revenue of $7.93 million fell short of the $8.34 million consensus estimate.
• Institutional ownership stands at 33.75%, with investors including Amundi, Renaissance Technologies, and Groupe la Française increasing their stakes during the first quarter.

Gold Royalty Corp. (NYSEAMERICAN:GROY - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $5.38.

GROY has been the subject of a number of research reports. HC Wainwright reduced their price objective on Gold Royalty from $7.75 to $7.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. TD Securities assumed coverage on Gold Royalty in a research report on Thursday, October 8th. They issued a "buy" rating and a $4.00 target price on the stock. Scotiabank dropped their target price on Gold Royalty from $6.00 to $5.75 and set an "outperform" rating on the stock in a research report on Tuesday, July 14th. Finally, TD set a $4.00 price target on Gold Royalty and gave the company a "buy" rating in a research note on Thursday, October 8th.

Gold Royalty Trading Down 2.0%

NYSEAMERICAN:GROY opened at $2.92 on Tuesday. Gold Royalty has a 12 month low of $2.45 and a 12 month high of $5.45. The company has a market cap of $673.97 million, a PE ratio of 292.29 and a beta of 1.10. The company has a 50 day simple moving average of $3.19 and a two-hundred day simple moving average of $3.13.

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

Hedge Funds Weigh In On Gold Royalty

Institutional investors have recently made changes to their positions in the business. Amundi increased its stake in shares of Gold Royalty by 20.0% in the 1st quarter. Amundi now owns 3,000,000 shares of the company's stock worth $10,740,000 after purchasing an additional 500,000 shares in the last quarter. Renaissance Technologies LLC raised its stake in Gold Royalty by 560.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,016,825 shares of the company's stock worth $7,220,000 after acquiring an additional 1,711,425 shares during the period. Groupe la Francaise raised its stake in Gold Royalty by 88.9% during the 1st quarter. Groupe la Francaise now owns 1,700,000 shares of the company's stock worth $6,067,000 after acquiring an additional 800,000 shares during the period. Extract Advisors LLC purchased a new position in Gold Royalty during the first quarter valued at approximately $4,827,000. Finally, CI Investments Inc. lifted its holdings in Gold Royalty by 7.1% during the first quarter. CI Investments Inc. now owns 305,096 shares of the company's stock valued at $1,092,000 after purchasing an additional 20,321 shares in the last quarter. 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 focused primarily on gold assets. Rather than operating mines directly, the company provides capital or acquires interests in mining projects in exchange for royalty payments, metal streams or other contractual interests tied to future production.

Gold Royalty's portfolio includes royalties and similar interests on exploration, development and producing properties. Its assets are located mainly in the Americas, including Canada, the United States and Latin America, and provide exposure to a range of gold projects operated by third-party mining companies.

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