Gold Royalty (NYSE:GROY) Given Hold Rating at Canaccord Genuity Group

Gold Royalty (NYSE:GROY)‘s stock had its “hold” rating reissued by Canaccord Genuity Group in a research note issued to investors on Thursday,Benzinga reports. They currently have a $5.00 price target on the stock, up from their previous price target of $4.50. Canaccord Genuity Group’s price target would indicate a potential upside of 1.42% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Raymond James Financial set a $4.50 price objective on shares of Gold Royalty and gave the company an “outperform” rating in a research report on Friday, October 10th. BMO Capital Markets reissued an “outperform” rating and set a $4.75 price target on shares of Gold Royalty in a research note on Tuesday, December 9th. Zacks Research upgraded shares of Gold Royalty from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. National Bankshares restated an “outperform” rating and issued a $5.50 price target on shares of Gold Royalty in a research report on Wednesday, December 10th. Finally, Scotiabank set a $5.00 price objective on Gold Royalty and gave the stock an “outperform” rating in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $5.39.

Gold Royalty Stock Performance

Shares of NYSE:GROY opened at $4.93 on Thursday. Gold Royalty has a twelve month low of $1.20 and a twelve month high of $5.45. The firm has a market cap of $973.63 million, a PE ratio of -37.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.63 and a current ratio of 1.63. The business has a fifty day moving average of $4.19 and a 200-day moving average of $3.61.

Institutional Trading of Gold Royalty

Several hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC lifted its holdings in Gold Royalty by 232.6% during the fourth quarter. ORG Wealth Partners LLC now owns 16,631 shares of the company’s stock worth $67,000 after acquiring an additional 11,631 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Gold Royalty during the fourth quarter worth about $15,928,000. JPMorgan Chase & Co. raised its position 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. Tudor Investment Corp ET AL bought a new position in shares of Gold Royalty during the 3rd quarter valued at about $1,769,000. Finally, Acuitas Investments LLC acquired a new position in shares of Gold Royalty in the 3rd quarter valued at approximately $3,014,000. 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.