Gold Royalty (NYSE:GROY) Trading Down 7.2% - Should You Sell?

Key Points

• Gold Royalty Corp. saw its shares drop by 7.2%, trading as low as $3.78, with a significant decrease in volume compared to its average session.
• Wall Street analysts have generally rated Gold Royalty as a "Buy", with several firms setting target prices ranging from $3.00 to $6.25.
• Institutional investors hold 33.75% of Gold Royalty's stock, with several purchasing new stakes in the last quarter.

Gold Royalty Corp. (NYSE:GROY - Get Free Report) traded down 7.2% during trading on Thursday . The company traded as low as $3.86 and last traded at $3.78. 1,183,536 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 1,831,586 shares. The stock had previously closed at $4.07.

Wall Street Analyst Weigh In

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

Gold Royalty Stock Performance

The firm has a market capitalization of $632.44 million, a PE ratio of -28.54 and a beta of 1.00. The business has a 50-day simple moving average of $3.48 and a 200-day simple moving average of $2.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.63 and a quick ratio of 1.63.

Institutional Investors Weigh In On Gold Royalty

Institutional investors have recently made changes to their positions in the company. Pacifica Partners Inc. purchased a new stake in Gold Royalty in the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. grew its stake 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 valued at $37,000 after buying an additional 6,800 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of Gold Royalty in the second quarter worth approximately $43,000. Walleye Capital LLC bought a new stake in shares of Gold Royalty during the 2nd quarter worth approximately $44,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Gold Royalty during the 2nd quarter valued at $67,000. Institutional investors own 33.75% of the company's stock.

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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