Gold Royalty (NYSE:GROY) Sees Strong Trading Volume Following Analyst Upgrade

Key Points

• Gold Royalty Corp. shares experienced a significant volume increase after Scotiabank raised its price target from $2.80 to $3.30, maintaining an "outperform" rating.
• Several analysts have given positive ratings on Gold Royalty, with HC Wainwright increasing its price objective to $6.25, suggesting strong potential for growth.
• Approximately 33.75% of Gold Royalty's stock is owned by institutional investors, highlighting significant interest from larger entities in the company's financial performance.

Shares of Gold Royalty Corp. (NYSE:GROY - Get Free Report) saw an uptick in trading volume on Tuesday after Scotiabank raised their price target on the stock from $2.80 to $3.30. Scotiabank currently has a sector outperform rating on the stock. 1,534,507 shares traded hands during trading, a decline of 3% from the previous session's volume of 1,587,157 shares.The stock last traded at $3.01 and had previously closed at $3.10.

A number of other brokerages have also commented on GROY. HC Wainwright boosted their price objective on shares of Gold Royalty from $5.75 to $6.25 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Canaccord Genuity Group initiated coverage on shares of Gold Royalty in a research report on Wednesday, June 11th. They issued a "buy" rating and a $3.00 price objective on the stock. Finally, National Bankshares reissued an "outperform" rating on shares of Gold Royalty in a research report on Wednesday, July 16th.

Institutional Trading of Gold Royalty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in Gold Royalty during the fourth quarter worth $46,000. XTX Topco Ltd bought a new stake in Gold Royalty during the first quarter worth $91,000. Marshall Wace LLP raised its position in Gold Royalty by 43.7% during the fourth quarter. Marshall Wace LLP now owns 100,963 shares of the company's stock worth $122,000 after acquiring an additional 30,710 shares in the last quarter. Regal Partners Ltd raised its position in Gold Royalty by 40.2% during the fourth quarter. Regal Partners Ltd now owns 196,658 shares of the company's stock worth $238,000 after acquiring an additional 56,390 shares in the last quarter. Finally, Eschler Asset Management LLP bought a new stake in Gold Royalty during the fourth quarter worth $76,000. 33.75% of the stock is owned by institutional investors.

Gold Royalty Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.63 and a quick ratio of 1.63. The company's 50-day simple moving average is $2.50 and its 200-day simple moving average is $1.85. The stock has a market capitalization of $516.52 million, a P/E ratio of -23.31 and a beta of 0.96.

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.