Shares of Gold Royalty Corp. (NYSEAMERICAN:GROY - Get Free Report) traded down 1.9% during mid-day trading on Wednesday . The company traded as low as $2.54 and last traded at $2.60. 2,100,513 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 1,776,856 shares. The stock had previously closed at $2.65.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Canaccord Genuity Group upgraded Gold Royalty from a "hold" rating to a "buy" rating and set a $5.00 price target for the company in a report on Wednesday, April 29th. Zacks Research lowered Gold Royalty from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 24th. Finally, HC Wainwright raised their price objective on Gold Royalty from $6.75 to $7.75 and gave the company a "buy" rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Gold Royalty presently has an average rating of "Moderate Buy" and an average target price of $5.79.
Check Out Our Latest Report on GROY
Gold Royalty Stock Down 1.9%
The stock has a market capitalization of $600.11 million, a price-to-earnings ratio of -15.29 and a beta of 0.92. The company's fifty day simple moving average is $3.09 and its 200 day simple moving average is $3.77.
Gold Royalty (NYSEAMERICAN:GROY - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $9.36 million for the quarter, compared to analyst estimates of $7.94 million. Gold Royalty had a negative net margin of 5.65% and a positive return on equity of 0.44%. As a group, analysts anticipate that Gold Royalty Corp. will post 0.05 earnings per share for the current year.
Institutional Investors Weigh In On Gold Royalty
Several hedge funds have recently bought and sold shares of GROY. Amundi bought a new stake in shares of Gold Royalty during the first quarter worth approximately $695,000. Goldman Sachs Group Inc. increased its stake in shares of Gold Royalty by 140.7% during the first quarter. Goldman Sachs Group Inc. now owns 99,504 shares of the company's stock worth $143,000 after purchasing an additional 58,172 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Gold Royalty by 1,918.6% during the second quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company's stock worth $2,303,000 after purchasing an additional 990,515 shares during the period. Quantbot Technologies LP bought a new position in shares of Gold Royalty during the second quarter worth approximately $406,000. Finally, Walleye Capital LLC acquired a new stake in Gold Royalty during the 2nd quarter worth approximately $44,000. 33.75% of the stock is currently owned by institutional investors and hedge funds.
Gold Royalty Company Profile
(
Get Free Report)
Gold Royalty Corp is a precious metals royalty and streaming company that focuses on acquiring and managing royalty interests in gold, silver and other metal assets. The company provides upfront funding to mining operators in exchange for a percentage of future metal production, offering an alternative financing model that can reduce capital requirements and accelerate development timelines for mining projects.
The firm's diversified portfolio spans royalty and stream agreements across the Americas, with interests in operating mines, development‐stage assets and advanced exploration projects.
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