Gold Royalty (NYSE:GROY) Trading Down 5.6% – What’s Next?

Gold Royalty Corp. (NYSE:GROY) shares traded down 5.6% on Friday . The company traded as low as $3.44 and last traded at $3.4560. 2,168,516 shares traded hands during trading, an increase of 3% from the average session volume of 2,097,785 shares. The stock had previously closed at $3.66.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GROY shares. Zacks Research upgraded shares of Gold Royalty from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. HC Wainwright lifted their target price on Gold Royalty from $5.75 to $6.25 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Maxim Group initiated coverage on Gold Royalty in a report on Thursday, September 11th. They issued a “buy” rating and a $6.00 price target for the company. Raymond James Financial set a $4.50 price objective on Gold Royalty and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, Scotiabank upped their target price on Gold Royalty from $3.30 to $4.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $4.75.

Gold Royalty Stock Down 5.1%

The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $592.38 million, a price-to-earnings ratio of -26.73 and a beta of 0.99. The stock has a 50 day moving average of $3.67 and a 200 day moving average of $2.90.

Institutional Investors Weigh In On Gold Royalty

Institutional investors and hedge funds have recently made changes to their positions in the company. Amundi lifted its stake in Gold Royalty by 300.0% during the second quarter. Amundi now owns 2,000,000 shares of the company’s stock worth $4,520,000 after purchasing an additional 1,500,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Gold Royalty by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 1,523,522 shares of the company’s stock worth $5,881,000 after purchasing an additional 481,381 shares during the period. Two Sigma Investments LP lifted its position in shares of Gold Royalty by 11.6% in the 3rd quarter. Two Sigma Investments LP now owns 1,400,411 shares of the company’s stock worth $5,406,000 after buying an additional 145,222 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Gold Royalty by 19.5% in the 1st quarter. GSA Capital Partners LLP now owns 916,940 shares of the company’s stock valued at $1,320,000 after buying an additional 149,406 shares during the period. Finally, Acuitas Investments LLC acquired a new position in shares of Gold Royalty in the 3rd quarter valued at about $3,014,000. 33.75% of the stock is owned by institutional investors and hedge funds.

About Gold Royalty

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.