Maxim Group Begins Coverage on Gold Royalty (NYSE:GROY)

Key Points

• Maxim Group has initiated coverage on Gold Royalty (NYSE:GROY) with a "buy" rating and a price target of $6.00, suggesting a potential upside of 66.67% from the current stock price.
• Multiple analysts, including Scotiabank and HC Wainwright, have maintained positive ratings on Gold Royalty, contributing to an overall consensus rating of "Buy" and an average target price of $4.64.
• The stock has seen recent volatility, with shares down by 4.3% on a Thursday, highlighting the current market conditions and investor interest.

Equities researchers at Maxim Group began coverage on shares of Gold Royalty (NYSE:GROY - Get Free Report) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a "buy" rating and a $6.00 price target on the stock. Maxim Group's target price would suggest a potential upside of 62.38% from the stock's previous close.

GROY has been the subject of several other reports. Scotiabank restated an "outperform" rating on shares of Gold Royalty in a research note on Monday, August 11th. Canaccord Genuity Group began coverage on Gold Royalty in a research note on Wednesday, June 11th. They set a "buy" rating and a $3.00 price target for the company. National Bankshares restated an "outperform" rating on shares of Gold Royalty in a research note on Wednesday, July 16th. Finally, HC Wainwright upped their price target on Gold Royalty from $5.75 to $6.25 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $4.64.

Gold Royalty Price Performance

Shares of NYSE:GROY traded down $0.06 on Thursday, hitting $3.70. The company had a trading volume of 1,754,246 shares, compared to its average volume of 1,726,607. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09. Gold Royalty has a 52-week low of $1.16 and a 52-week high of $4.04. The business has a 50 day moving average of $3.02 and a 200 day moving average of $2.17. The company has a market cap of $629.89 million, a PE ratio of -28.42 and a beta of 0.99.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Amundi grew its stake in Gold Royalty by 300.0% during the 2nd quarter. Amundi now owns 2,000,000 shares of the company's stock worth $4,520,000 after buying an additional 1,500,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Gold Royalty by 1,918.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company's stock valued at $2,303,000 after purchasing an additional 990,515 shares during the period. GSA Capital Partners LLP increased 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 purchasing an additional 149,406 shares during the period. Zazove Associates LLC increased its position in shares of Gold Royalty by 42.8% during the 1st quarter. Zazove Associates LLC now owns 629,758 shares of the company's stock valued at $907,000 after purchasing an additional 188,758 shares during the period. Finally, Groupe la Francaise increased its position in shares of Gold Royalty by 594.7% during the 2nd quarter. Groupe la Francaise now owns 600,000 shares of the company's stock valued at $1,320,000 after purchasing an additional 513,636 shares during the period. 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.