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

Shares of Gold Royalty Corp. (NYSE:GROY) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $5.1071.

Several research firms have recently weighed in on GROY. Scotiabank set a $5.00 price objective on Gold Royalty and gave the company an “outperform” rating in a research note on Friday, December 12th. National Bankshares reissued an “outperform” rating and set a $5.50 price objective on shares of Gold Royalty in a report on Wednesday, December 10th. BMO Capital Markets reiterated an “outperform” rating and set a $4.75 target price on shares of Gold Royalty in a research report 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. Finally, Raymond James Financial set a $4.50 price objective on shares of Gold Royalty and gave the stock an “outperform” rating in a report on Friday, October 10th.

Hedge Funds Weigh In On Gold Royalty

A number of institutional investors and hedge funds have recently bought and sold shares of GROY. Groupe la Francaise increased its holdings in shares of Gold Royalty by 594.7% in the second quarter. Groupe la Francaise now owns 600,000 shares of the company’s stock valued at $1,320,000 after purchasing an additional 513,636 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of Gold Royalty by 496.9% during the second quarter. XTX Topco Ltd now owns 377,394 shares of the company’s stock valued at $834,000 after acquiring an additional 314,170 shares during the period. Goldman Sachs Group Inc. increased its position in Gold Royalty by 140.7% in the first quarter. Goldman Sachs Group Inc. now owns 99,504 shares of the company’s stock worth $143,000 after purchasing an additional 58,172 shares during the period. Quadrature Capital Ltd lifted its position in Gold Royalty by 257.9% during the 2nd quarter. Quadrature Capital Ltd now owns 177,498 shares of the company’s stock valued at $393,000 after purchasing an additional 127,904 shares during the period. Finally, PFG Investments LLC acquired a new stake in shares of Gold Royalty during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 33.75% of the company’s stock.

Gold Royalty Price Performance

NYSE GROY opened at $4.95 on Friday. The firm has a market capitalization of $977.58 million, a PE ratio of -38.08 and a beta of 0.98. The company’s 50 day simple moving average is $4.10 and its 200 day simple moving average is $3.55. Gold Royalty has a 12 month low of $1.20 and a 12 month high of $5.05. 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 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.