Gold Royalty (NYSE:GROY) Shares Down 4.7% - What's Next?

Key Points

• Gold Royalty Corp. shares fell 4.7% to $3.67 with a trading volume that was 60% lower than the average.
• Research analysts have mixed views, with firms like HC Wainwright raising the target price to $6.25 while others maintain "buy" ratings, contributing to a consensus rating of "Buy" and an average target price of $4.64.
• Institutional investors are actively adjusting their positions in Gold Royalty, with companies like Geneos Wealth Management boosting their holdings by 68% in the second quarter.

Gold Royalty Corp. (NYSE:GROY - Get Free Report)'s stock price fell 4.7% during trading on Thursday . The company traded as low as $3.72 and last traded at $3.67. 714,673 shares traded hands during trading, a decline of 60% from the average session volume of 1,803,613 shares. The stock had previously closed at $3.85.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GROY. HC Wainwright raised their target price on Gold Royalty from $5.75 to $6.25 and gave the company a "buy" rating in a research report on Thursday, August 7th. National Bankshares reiterated an "outperform" rating on shares of Gold Royalty in a report on Wednesday, July 16th. Maxim Group initiated coverage on Gold Royalty in a report on Thursday, September 11th. They issued a "buy" rating and a $6.00 price objective on the stock. Scotiabank reiterated an "outperform" rating on shares of Gold Royalty in a report on Monday, August 11th. Finally, Canaccord Genuity Group started coverage on Gold Royalty in a report on Wednesday, June 11th. They issued a "buy" rating and a $3.00 price target for the company. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $4.64.

Gold Royalty Trading Down 1.4%

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 business's 50 day moving average is $3.34 and its 200 day moving average is $2.35. The stock has a market cap of $646.93 million, a price-to-earnings ratio of -29.19 and a beta of 0.99.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GROY. Geneos Wealth Management Inc. boosted its holdings in shares of Gold Royalty by 68.0% during the second quarter. Geneos Wealth Management Inc. now owns 16,800 shares of the company's stock worth $37,000 after purchasing an additional 6,800 shares during the last quarter. PFG Investments LLC purchased a new position in shares of Gold Royalty in the 2nd quarter valued at $43,000. Walleye Capital LLC purchased a new position in shares of Gold Royalty in the 2nd quarter valued at $44,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Gold Royalty in the 2nd quarter valued at $67,000. Finally, XTX Topco Ltd purchased a new stake in Gold Royalty during the 1st quarter worth $91,000. 33.75% of the stock is owned by hedge funds and other institutional investors.

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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