Gold Royalty Corp. (NYSE:GROY) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Gold Royalty Corp. (NYSE:GROY) has received an average consensus rating of "Buy" from six research firms, indicating positive analyst sentiment.
• The average 1-year price target among brokerages for GROY is $4.61, reflecting optimism about the stock's future performance.
• Significant institutional investment changes include Bank of America increasing its stake by over 4,195%, now holding approximately 98,794 shares of the company.

Gold Royalty Corp. (NYSE:GROY - Get Free Report) has earned an average rating of "Buy" from the six research firms that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.61.

GROY has been the topic of a number of analyst reports. National Bankshares reiterated an "outperform" rating on shares of Gold Royalty in a research report on Wednesday, July 16th. Raymond James Financial set a $4.50 price target on shares of Gold Royalty and gave the company an "outperform" rating in a report on Friday. Maxim Group initiated coverage on shares of Gold Royalty in a research note on Thursday, September 11th. They issued a "buy" rating and a $6.00 target price on the stock. Scotiabank reissued an "outperform" rating on shares of Gold Royalty in a research report on Monday, August 11th. Finally, HC Wainwright boosted 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.

Gold Royalty Trading Down 8.8%

NYSE:GROY opened at $3.71 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.63 and a current ratio of 1.63. Gold Royalty has a 1 year low of $1.16 and a 1 year high of $4.15. The stock has a market cap of $632.44 million, a P/E ratio of -28.54 and a beta of 1.00. The stock has a 50-day simple moving average of $3.48 and a 200-day simple moving average of $2.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pacifica Partners Inc. purchased a new stake in Gold Royalty during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. grew its stake in Gold Royalty by 68.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 16,800 shares of the company's stock worth $37,000 after buying an additional 6,800 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Gold Royalty in the 2nd quarter valued at about $216,000. Brevan Howard Capital Management LP acquired a new position in shares of Gold Royalty during the second quarter worth approximately $136,000. Finally, Bank of America Corp DE lifted its holdings in Gold Royalty by 4,195.4% in the second quarter. Bank of America Corp DE now owns 98,794 shares of the company's stock worth $218,000 after purchasing an additional 96,494 shares during the period. 33.75% of the stock is currently owned by hedge funds and other institutional investors.

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.

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