Analysts Set Gold Royalty Corp. (NYSE:GROY) Price Target at $5.00

Gold Royalty Corp. (NYSE:GROY) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $5.00.

GROY has been the topic of several research reports. Maxim Group assumed coverage on shares of Gold Royalty in a report on Thursday, September 11th. They issued a “buy” rating and a $6.00 target price on the stock. National Bankshares restated an “outperform” rating and issued a $5.50 price target on shares of Gold Royalty in a research note on Wednesday, December 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $4.75 price objective on shares of Gold Royalty in a report on Tuesday, December 9th. Zacks Research cut Gold Royalty from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Raymond James Financial set a $4.50 target price on Gold Royalty and gave the company an “outperform” rating in a report on Friday, October 10th.

Hedge Funds Weigh In On Gold Royalty

A number of institutional investors and hedge funds have recently made changes to their positions in GROY. Pacifica Partners Inc. bought a new position in Gold Royalty in the third quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its holdings in Gold Royalty by 68.0% in the 2nd 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 period. PFG Investments LLC purchased a new position in Gold Royalty during the second quarter valued at $43,000. Walleye Capital LLC bought a new stake in Gold Royalty during the second quarter valued at about $44,000. Finally, Raymond James Financial Inc. increased its position in Gold Royalty by 1,190.4% in the third quarter. Raymond James Financial Inc. now owns 12,917 shares of the company’s stock worth $50,000 after buying an additional 11,916 shares in the last quarter. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Gold Royalty Stock Performance

Shares of NYSE GROY opened at $4.21 on Wednesday. The firm’s 50-day moving average price is $3.83 and its 200-day moving average price is $3.32. Gold Royalty has a 52-week low of $1.16 and a 52-week high of $4.49. The company has a market cap of $831.44 million, a PE ratio of -32.38 and a beta of 0.97. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09.

Gold Royalty Company Profile

Gold Royalty Corp (NYSE: GROY) is a precious metals-focused royalty and streaming company with a dedicated emphasis on gold. Through the acquisition and management of royalty, stream, and similar interests, the company gains exposure to a diversified portfolio of producing mines, advanced-stage development projects, and exploration assets. By taking a passive owner role, Gold Royalty receives a share of production or revenue from its partner operators without bearing the full costs and risks of mine development.

The company’s business model centers on securing cash flows from producing assets while simultaneously pursuing growth via royalties on projects at earlier stages.