Gold Royalty (NYSE:GROY) Sees Large Volume Increase on 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.

Gold Royalty Corp. (NYSE:GROY - Get Free Report) shares saw strong 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.

Other equities research analysts have also issued research reports about the stock. National Bankshares reissued an "outperform" rating on shares of Gold Royalty in a report on Wednesday, July 16th. Canaccord Genuity Group assumed coverage on shares of Gold Royalty in a research report on Wednesday, June 11th. They set a "buy" rating and a $3.00 target price on the stock. Finally, HC Wainwright lifted 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.

Institutional Trading of Gold Royalty

A number of hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in Gold Royalty in the fourth quarter valued at approximately $46,000. Marshall Wace LLP increased its holdings 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 buying an additional 30,710 shares during the last quarter. Regal Partners Ltd increased its holdings 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 buying an additional 56,390 shares during the last quarter. Eschler Asset Management LLP acquired a new position in Gold Royalty during the fourth quarter worth approximately $76,000. Finally, Eagle Global Advisors LLC acquired a new position in shares of Gold Royalty in the fourth quarter valued at $206,000. 33.75% of the stock is currently owned by institutional investors and hedge funds.

Gold Royalty Stock Performance

The stock has a market capitalization of $508.85 million, a price-to-earnings ratio of -22.96 and a beta of 0.96. The company's fifty day simple moving average is $2.41 and its 200 day simple moving average is $1.81. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09.

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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