Brokerages Set Gold Royalty Corp. (NYSE:GROY) PT at $5.00

Shares of Gold Royalty Corp. (NYSE:GROY) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $5.00.

A number of brokerages have recently weighed in on GROY. Maxim Group started coverage on shares of Gold Royalty in a research note on Thursday, September 11th. They issued a “buy” rating and a $6.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and set a $4.75 target price on shares of Gold Royalty in a research report on Tuesday, December 9th. Raymond James Financial set a $4.50 target price on Gold Royalty and gave the company an “outperform” rating in a research note on Friday, October 10th. Zacks Research downgraded Gold Royalty from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Scotiabank set a $5.00 price objective on Gold Royalty and gave the company an “outperform” rating in a research report on Friday, December 12th.

Gold Royalty Price Performance

Shares of NYSE:GROY opened at $4.21 on Wednesday. The business has a 50-day moving average of $3.83 and a two-hundred day moving average of $3.34. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.63 and a quick ratio of 1.63. Gold Royalty has a fifty-two week low of $1.16 and a fifty-two week high of $4.49. The stock has a market capitalization of $831.44 million, a P/E ratio of -32.38 and a beta of 0.97.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Pacifica Partners Inc. bought a new stake in shares of Gold Royalty in the third quarter valued at about $32,000. Geneos Wealth Management Inc. lifted its position in shares of 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 acquiring an additional 6,800 shares during the period. PFG Investments LLC acquired a new stake in shares of Gold Royalty during the 2nd quarter worth approximately $43,000. Walleye Capital LLC acquired a new stake in shares of Gold Royalty during the 2nd quarter worth approximately $44,000. Finally, Raymond James Financial Inc. increased its position in shares of Gold Royalty by 1,190.4% during the third quarter. Raymond James Financial Inc. now owns 12,917 shares of the company’s stock valued at $50,000 after purchasing an additional 11,916 shares during the period. Institutional investors and hedge funds own 33.75% of the company’s stock.

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.