Gold Royalty (NYSE:GROY) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Gold Royalty (NYSE:GROY) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on GROY. Scotiabank set a $5.00 price target on shares of Gold Royalty and gave the company an “outperform” rating in a research note on Friday, December 12th. BMO Capital Markets restated an “outperform” rating and issued a $4.75 target price on shares of Gold Royalty in a research report on Tuesday, December 9th. National Bankshares reiterated an “outperform” rating and set a $5.50 price target on shares of Gold Royalty in a research report on Wednesday, December 10th. Finally, Raymond James Financial set a $4.50 price objective on Gold Royalty and gave the company an “outperform” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $5.00.

Gold Royalty Price Performance

Shares of NYSE GROY traded up $0.07 during trading on Monday, hitting $4.85. The company had a trading volume of 1,359,987 shares, compared to its average volume of 3,039,299. The stock has a fifty day simple moving average of $4.00 and a two-hundred day simple moving average of $3.51. Gold Royalty has a fifty-two week low of $1.20 and a fifty-two week high of $4.90. The firm has a market capitalization of $957.44 million, a price-to-earnings ratio of -37.27 and a beta of 0.98. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09.

Institutional Trading of Gold Royalty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWA Asset Management Group LLC purchased a new stake in shares of Gold Royalty in the fourth quarter valued at about $15,928,000. Amundi grew its stake in shares of Gold Royalty by 300.0% in the 2nd quarter. Amundi now owns 2,000,000 shares of the company’s stock valued at $4,520,000 after buying an additional 1,500,000 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Gold Royalty by 1,918.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock valued at $2,303,000 after buying an additional 990,515 shares during the period. Acuitas Investments LLC acquired a new stake in shares of Gold Royalty during the 3rd quarter worth approximately $3,014,000. Finally, Groupe la Francaise raised its position in shares of Gold Royalty by 594.7% during the 2nd quarter. Groupe la Francaise now owns 600,000 shares of the company’s stock valued at $1,320,000 after buying an additional 513,636 shares during the period. 33.75% of the stock is owned by institutional investors and hedge funds.

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.