Gold Royalty Corp. (NYSE:GROY) Given Consensus Rating of “Buy” by Analysts

Shares of Gold Royalty Corp. (NYSE:GROY) have received an average rating of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.6786.

A number of brokerages have recently issued reports on GROY. HC Wainwright upped their target price on shares of Gold Royalty from $6.25 to $7.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Maxim Group set a $7.00 price objective on shares of Gold Royalty in a research report on Friday, January 23rd. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $5.00 target price (up previously from $4.50) on shares of Gold Royalty in a report on Thursday, January 22nd. National Bank Financial restated an “outperform” rating and issued a $5.50 target price on shares of Gold Royalty in a research report on Wednesday, December 10th. Finally, BMO Capital Markets restated an “outperform” rating and set a $4.75 price target on shares of Gold Royalty in a report on Tuesday, December 9th.

Gold Royalty Stock Performance

Shares of GROY opened at $4.48 on Thursday. The firm has a market cap of $884.76 million, a P/E ratio of -34.46 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. Gold Royalty has a twelve month low of $1.23 and a twelve month high of $5.45. The firm’s 50 day moving average price is $4.38 and its two-hundred day moving average price is $3.83.

Institutional Investors Weigh In On Gold Royalty

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CWA Asset Management Group LLC purchased a new position in Gold Royalty in the fourth quarter worth $15,928,000. Amundi raised its stake in shares of Gold Royalty by 300.0% during the 2nd quarter. Amundi now owns 2,000,000 shares of the company’s stock valued at $4,520,000 after purchasing an additional 1,500,000 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Gold Royalty by 1,918.6% in the second quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock valued at $2,303,000 after acquiring an additional 990,515 shares during the period. Acuitas Investments LLC purchased a new stake in shares of Gold Royalty in the third quarter worth $3,014,000. Finally, Simcoe Capital LLC purchased a new stake in Gold Royalty in the fourth quarter valued at approximately $3,062,000. 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.