HC Wainwright Issues Positive Forecast for Gold Royalty (NYSE:GROY) Stock Price

Key Points

• HC Wainwright raised the target price for Gold Royalty (GROY) from $5.75 to $6.25, suggesting a potential upside of 106.27% from the previous close.
• The stock has seen significant interest from institutional investors, with 33.75% of the shares currently owned by hedge funds and other institutions.
• GROY stock is currently trading around $3.03, with a 52-week range from $1.16 to $3.11.

Gold Royalty (NYSE:GROY - Free Report) had its price target boosted by HC Wainwright from $5.75 to $6.25 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Gold Royalty's FY2025 earnings at $0.00 EPS.

Several other analysts also recently issued reports on GROY. Scotiabank set a $2.50 price target on Gold Royalty and gave the stock an "outperform" rating in a report on Friday, June 13th. Canaccord Genuity Group assumed coverage on Gold Royalty in a report on Wednesday, June 11th. They issued a "buy" rating and a $3.00 target price on the stock. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Gold Royalty in a research report on Wednesday, July 16th.

Gold Royalty Price Performance

GROY stock traded down $0.12 on Thursday, reaching $3.12. 1,603,747 shares of the company's stock were exchanged, compared to its average volume of 1,578,634. The stock has a fifty day moving average of $2.39 and a 200-day moving average of $1.80. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09. The firm has a market cap of $531.01 million, a PE ratio of -23.96 and a beta of 0.96. Gold Royalty has a twelve month low of $1.16 and a twelve month high of $3.26.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its stake in Gold Royalty by 20.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 125,910 shares of the company's stock worth $152,000 after buying an additional 21,717 shares during the last quarter. Bank of Montreal Can increased its stake in Gold Royalty by 15.4% in the fourth quarter. Bank of Montreal Can now owns 3,591,397 shares of the company's stock valued at $4,346,000 after purchasing an additional 478,665 shares in the last quarter. Marshall Wace LLP increased its stake in Gold Royalty by 43.7% in the fourth quarter. Marshall Wace LLP now owns 100,963 shares of the company's stock valued at $122,000 after purchasing an additional 30,710 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of Gold Royalty during the fourth quarter worth about $51,000. Finally, Regal Partners Ltd increased its position in shares of 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. 33.75% of the stock is 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.