Zazove Associates LLC Grows Stock Position in Gold Royalty Corp. (NYSE:GROY)

Key Points

• Zazove Associates LLC increased its stake in Gold Royalty Corp. by 42.8%, owning approximately 0.37% of the company valued at $907,000 following the purchase of 188,758 additional shares.
• Gold Royalty's stock performance shows a 1 year low of $1.16 and a 1 year high of $3.26, with the current stock opening at $3.00.
• Analysts have positive outlooks on Gold Royalty, with HC Wainwright raising its target price from $5.75 to $6.25 and issuing a “buy” rating.

Zazove Associates LLC lifted its holdings in shares of Gold Royalty Corp. (NYSE:GROY - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 629,758 shares of the company's stock after purchasing an additional 188,758 shares during the period. Zazove Associates LLC owned 0.37% of Gold Royalty worth $907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GROY. Bank of Montreal Can raised its stake in Gold Royalty by 15.4% during the 4th quarter. Bank of Montreal Can now owns 3,591,397 shares of the company's stock worth $4,346,000 after buying an additional 478,665 shares during the period. Marshall Wace LLP raised its stake in Gold Royalty by 43.7% during the 4th quarter. Marshall Wace LLP now owns 100,963 shares of the company's stock worth $122,000 after buying an additional 30,710 shares during the period. Two Sigma Securities LLC acquired a new position in Gold Royalty during the 4th quarter worth approximately $51,000. Regal Partners Ltd raised its stake in Gold Royalty by 40.2% during the 4th quarter. Regal Partners Ltd now owns 196,658 shares of the company's stock worth $238,000 after buying an additional 56,390 shares during the period. Finally, Parvin Asset Management LLC acquired a new position in Gold Royalty during the 4th quarter worth approximately $162,000. Institutional investors own 33.75% of the company's stock.

Gold Royalty Stock Performance

Shares of GROY traded down $0.04 on Friday, reaching $3.03. 1,042,090 shares of the company's stock traded hands, compared to its average volume of 1,602,762. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09. The stock has a market cap of $516.52 million, a PE ratio of -23.31 and a beta of 0.96. The stock's 50 day simple moving average is $2.50 and its two-hundred day simple moving average is $1.86. Gold Royalty Corp. has a 52-week low of $1.16 and a 52-week high of $3.26.

Analysts Set New Price Targets

A number of research firms recently weighed in on GROY. National Bankshares reaffirmed an "outperform" rating on shares of Gold Royalty in a research note on Wednesday, July 16th. Scotiabank reissued an "outperform" rating on shares of Gold Royalty in a research note on Monday, August 11th. HC Wainwright increased their price objective on Gold Royalty from $5.75 to $6.25 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group began coverage on Gold Royalty in a research note on Wednesday, June 11th. They issued a "buy" rating and a $3.00 price objective for the company.

Gold Royalty Company Profile

Gold Royalty Corp., a precious metals-focused royalty company, provides financing solutions to the metals and mining industry. It focuses on acquiring royalties, streams, and similar interests at varying stages of the mine life cycle to build a portfolio offering near, medium, and longer-term returns for its investors.