Gold Royalty Corp. (NYSEAMERICAN:GROY) Stock Has Consensus Price Target of $5.64 According to Analysts

Gold Royalty Corp. (NYSEAMERICAN:GROY) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.64.

A number of equities analysts have recently weighed in on the stock. HC Wainwright dropped their price target on shares of Gold Royalty from $7.75 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Scotiabank reduced their price objective on Gold Royalty from $6.00 to $5.75 and set an “outperform” rating for the company in a research report on Tuesday, July 14th.

Gold Royalty Stock Performance

Shares of GROY opened at $2.99 on Friday. The company’s 50 day moving average price is $3.14 and its 200 day moving average price is $3.17. Gold Royalty has a 52 week low of $2.45 and a 52 week high of $5.45. The company has a market capitalization of $690.12 million, a PE ratio of 299.30 and a beta of 1.10.

Gold Royalty (NYSEAMERICAN:GROY) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $7.93 million for the quarter, compared to analyst estimates of $8.34 million. Gold Royalty had a net margin of 6.65% and a return on equity of 0.68%. On average, equities analysts forecast that Gold Royalty will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gold Royalty

Hedge funds and other institutional investors have recently made changes to their positions in the company. AXQ Capital LP bought a new stake in shares of Gold Royalty in the 2nd quarter valued at approximately $29,000. Kestra Advisory Services LLC increased its holdings in Gold Royalty by 118.8% in the first quarter. Kestra Advisory Services LLC now owns 10,939 shares of the company’s stock worth $39,000 after buying an additional 5,939 shares during the last quarter. NewEdge Advisors LLC bought a new position in Gold Royalty during the first quarter valued at approximately $40,000. First Trust Advisors LP bought a new position in Gold Royalty during the first quarter valued at approximately $43,000. Finally, Hunter Associates Investment Management LLC bought a new position in Gold Royalty during the first quarter valued at approximately $52,000. 33.75% of the stock is owned by hedge funds and other institutional investors.

Gold Royalty Company Profile

Gold Royalty Corp. (NYSE American: GROY) is a precious-metals royalty and streaming company. Rather than operating mines directly, the company provides financing to mining and exploration companies in exchange for contractual interests in future production, such as royalties, streams and other mineral-rights payments.

Its portfolio is focused primarily on gold properties in the Americas, with exposure to mining districts in the United States, Canada and Mexico. Gold Royalty’s interests may cover producing, development-stage and exploration properties, allowing the company to participate in potential mineral production without bearing the direct operating and capital costs associated with owning and running mines.

Gold Royalty was established as part of the growth of the modern precious-metals royalty sector and became publicly listed in 2021.