Gold Royalty Corp. (NYSE:GROY) Given Average Recommendation of “Buy” by Brokerages

Shares of Gold Royalty Corp. (NYSE:GROY) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $5.6786.

Several analysts have recently commented on GROY shares. HC Wainwright raised their price objective on shares of Gold Royalty from $6.25 to $7.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Canaccord Genuity Group restated a “hold” rating and set a $5.00 price objective (up from $4.50) on shares of Gold Royalty in a research report on Thursday, January 22nd. BMO Capital Markets restated an “outperform” rating and issued a $4.75 price target on shares of Gold Royalty in a report on Tuesday, December 9th. Maxim Group set a $7.00 price objective on shares of Gold Royalty in a report on Friday, January 23rd. Finally, Zacks Research raised Gold Royalty from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Amundi purchased a new position in shares of Gold Royalty during the 1st quarter worth approximately $695,000. Goldman Sachs Group Inc. raised its stake 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 valued at $143,000 after purchasing an additional 58,172 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Gold Royalty by 1,918.6% in the second quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock valued at $2,303,000 after acquiring an additional 990,515 shares during the period. XTX Topco Ltd boosted its holdings in shares of Gold Royalty by 496.9% during the second quarter. XTX Topco Ltd now owns 377,394 shares of the company’s stock valued at $834,000 after acquiring an additional 314,170 shares during the period. Finally, Quadrature Capital Ltd increased its stake in shares of Gold Royalty by 257.9% in the second quarter. Quadrature Capital Ltd now owns 177,498 shares of the company’s stock valued at $393,000 after purchasing an additional 127,904 shares during the period. 33.75% of the stock is currently owned by institutional investors and hedge funds.

Gold Royalty Trading Down 0.9%

NYSE GROY opened at $4.48 on Thursday. Gold Royalty has a twelve month low of $1.23 and a twelve month high of $5.45. The firm has a market capitalization of $884.76 million, a PE ratio of -34.46 and a beta of 0.98. The stock’s 50 day moving average is $4.38 and its 200 day moving average is $3.83. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09.

About Gold Royalty

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.