Gold Royalty (NYSE:GROY) Hits New 1-Year High - Here's What Happened

Key Points

• Gold Royalty Corp. (NYSE:GROY) shares reached a new 52-week high of $4.07, closing at $4.06 with significant trading volume of 1,924,662 shares.
• Several analysts have issued positive ratings on GROY, with the average price target being $4.64 and recommendations ranging from "buy" to "outperform".
• Institutional investors hold 33.75% of Gold Royalty's stock, with notable increases in holdings by firms such as Goldman Sachs, which boosted its position by 140.7%.

Gold Royalty Corp. (NYSE:GROY - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.07 and last traded at $4.06, with a volume of 1924662 shares traded. The stock had previously closed at $3.80.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GROY. Scotiabank reissued an "outperform" rating on shares of Gold Royalty in a research report on Monday, August 11th. Maxim Group began coverage on shares of Gold Royalty in a research report on Thursday, September 11th. They set a "buy" rating and a $6.00 price target for the company. HC Wainwright upped their price target on shares of Gold Royalty from $5.75 to $6.25 and gave the company a "buy" rating in a research report on Thursday, August 7th. Canaccord Genuity Group began coverage on shares of Gold Royalty in a research report on Wednesday, June 11th. They set a "buy" rating and a $3.00 price target for the company. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Gold Royalty in a research report on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $4.64.

Gold Royalty Stock Up 6.2%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $687.85 million, a PE ratio of -31.04 and a beta of 1.00. The company's fifty day moving average is $3.43 and its 200-day moving average is $2.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in shares of Gold Royalty during the 1st quarter valued at approximately $91,000. Goldman Sachs Group Inc. boosted its position in shares of Gold Royalty by 140.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 99,504 shares of the company's stock valued at $143,000 after acquiring an additional 58,172 shares during the last quarter. Medici Capital LLC bought a new position in shares of Gold Royalty during the 2nd quarter valued at approximately $252,000. Groupe la Francaise bought a new position in shares of Gold Royalty during the 1st quarter valued at approximately $129,000. Finally, GSA Capital Partners LLP boosted its position in shares of Gold Royalty by 19.5% during the 1st quarter. GSA Capital Partners LLP now owns 916,940 shares of the company's stock valued at $1,320,000 after acquiring an additional 149,406 shares during the last quarter. 33.75% of the stock is currently owned by institutional investors.

About Gold Royalty

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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