Gold Royalty Corp. (NYSE:GROY) Receives $5.68 Average Price Target from Brokerages

Gold Royalty Corp. (NYSE:GROY) has received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.6786.

Several research firms have commented on GROY. Maxim Group set a $7.00 price objective on Gold Royalty in a research report on Friday, January 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $4.75 target price on shares of Gold Royalty in a report on Tuesday, December 9th. HC Wainwright increased their price target on shares of Gold Royalty from $6.25 to $7.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Scotiabank raised their price target on shares of Gold Royalty from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Zacks Research raised shares of Gold Royalty from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th.

Hedge Funds Weigh In On Gold Royalty

Several institutional investors and hedge funds have recently modified their holdings of GROY. 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. Caitong International Asset Management Co. Ltd increased its position in shares of Gold Royalty by 363,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,278 shares of the company’s stock valued at $29,000 after buying an additional 7,276 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in shares of Gold Royalty in the third quarter valued at approximately $32,000. Squarepoint Ops LLC raised its stake in shares of Gold Royalty by 14.2% during the 4th quarter. Squarepoint Ops LLC now owns 69,877 shares of the company’s stock worth $282,000 after buying an additional 8,663 shares during the period. Finally, SevenBridge Financial Group LLC purchased a new position in shares of Gold Royalty during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Gold Royalty Stock Down 2.5%

Gold Royalty stock opened at $4.21 on Monday. The firm has a market cap of $926.16 million, a price-to-earnings ratio of -32.38 and a beta of 0.97. Gold Royalty has a 52 week low of $1.23 and a 52 week high of $5.45. The business’s 50-day moving average price is $4.50 and its 200 day moving average price is $4.03. 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.