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

Key Points

• Scotiabank has raised its price target for Gold Royalty (NYSE:GROY) from $2.80 to $3.30, indicating a potential upside of 4.93% from the stock's previous close.
• Other analysts have also issued positive ratings, with HC Wainwright lifting their target to $6.25 and maintaining a "buy" rating.
• The stock's current price is $3.15, with a market cap of $536.13 million and significant institutional ownership of 33.75%.

Gold Royalty (NYSE:GROY - Get Free Report) had its price objective lifted by investment analysts at Scotiabank from $2.80 to $3.30 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's target price points to a potential upside of 4.93% from the stock's previous close.

GROY has been the subject of a number of other research reports. National Bankshares reissued an "outperform" rating on shares of Gold Royalty in a research report on Wednesday, July 16th. Canaccord Genuity Group began coverage on Gold Royalty in a report on Wednesday, June 11th. They set a "buy" rating and a $3.00 price target for the company. Finally, HC Wainwright lifted their price target on Gold Royalty from $5.75 to $6.25 and gave the stock a "buy" rating in a research report on Thursday.

Gold Royalty Stock Performance

GROY stock traded down $0.09 on Monday, hitting $3.15. The company's stock had a trading volume of 1,447,696 shares, compared to its average volume of 1,576,797. The stock has a market cap of $536.13 million, a price-to-earnings ratio of -24.19 and a beta of 0.96. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09. Gold Royalty has a 1 year low of $1.16 and a 1 year high of $3.26. The firm has a 50 day moving average of $2.39 and a two-hundred day moving average of $1.80.

Hedge Funds Weigh In On Gold Royalty

Several institutional investors have recently modified their holdings of the business. Total Wealth Planning & Management Inc. bought a new position in Gold Royalty during the fourth quarter valued at $31,000. PFG Investments LLC purchased a new stake in Gold Royalty during the second quarter valued at about $43,000. Cubist Systematic Strategies LLC purchased a new stake in Gold Royalty during the fourth quarter valued at about $46,000. Two Sigma Securities LLC bought a new position in shares of Gold Royalty during the fourth quarter valued at about $51,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Gold Royalty during the 4th quarter valued at approximately $54,000. 33.75% of the stock is owned by 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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