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

Key Points

• Scotiabank raised its price target for Gold Royalty (NYSE:GROY) from $3.30 to $4.00, indicating a potential upside of 10.34% from its previous closing price.
• Six analysts have rated Gold Royalty with a Buy rating, resulting in an average price target of $4.75.
• Gold Royalty's stock is currently trading at $3.63, with a market capitalization of $617.95 million.

Gold Royalty (NYSE:GROY - Get Free Report) had its price target raised by analysts at Scotiabank from $3.30 to $4.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price objective would indicate a potential upside of 10.34% from the company's previous close.

Other analysts also recently issued research reports about the company. Maxim Group assumed coverage on Gold Royalty in a research note on Thursday, September 11th. They set a "buy" rating and a $6.00 target price for the company. National Bankshares restated an "outperform" rating on shares of Gold Royalty in a research note on Wednesday, July 16th. HC Wainwright raised their price target on shares of Gold Royalty from $5.75 to $6.25 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial set a $4.50 price objective on shares of Gold Royalty and gave the company an "outperform" rating in a research report on Friday, October 10th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $4.75.

Gold Royalty Stock Performance

GROY traded up $0.09 during trading on Thursday, hitting $3.63. The stock had a trading volume of 1,820,926 shares, compared to its average volume of 1,957,424. 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 12 month low of $1.16 and a 12 month high of $4.15. The company has a 50 day simple moving average of $3.60 and a 200-day simple moving average of $2.59. The firm has a market cap of $617.95 million, a PE ratio of -27.88 and a beta of 1.00.

Institutional Trading of Gold Royalty

Several institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in Gold Royalty in the first quarter valued at $91,000. Medici Capital LLC acquired a new stake in shares of Gold Royalty in the 2nd quarter valued at $252,000. Goldman Sachs Group Inc. grew its holdings in shares of Gold Royalty by 140.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 99,504 shares of the company's stock worth $143,000 after purchasing an additional 58,172 shares during the last quarter. Groupe la Francaise acquired a new stake in shares of Gold Royalty during the 1st quarter worth about $129,000. Finally, GSA Capital Partners LLP lifted its holdings in Gold Royalty by 19.5% during the 1st quarter. GSA Capital Partners LLP now owns 916,940 shares of the company's stock valued at $1,320,000 after purchasing an additional 149,406 shares during the last quarter. Institutional investors and hedge funds 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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