Gold Royalty (NYSE:GROY) Receives “Hold” Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Gold Royalty (NYSE:GROY) in a report issued on Thursday morning, MarketBeat reports. They currently have a $5.00 price target on the stock, up from their prior price target of $4.50.

A number of other equities analysts have also commented on GROY. HC Wainwright lifted their price target on shares of Gold Royalty from $6.25 to $7.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Raymond James Financial set a $4.50 target price on Gold Royalty and gave the stock an “outperform” rating in a report on Friday, October 10th. National Bankshares reiterated an “outperform” rating and issued a $5.50 price target on shares of Gold Royalty in a research report on Wednesday, December 10th. Scotiabank set a $5.00 price objective on Gold Royalty and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $4.75 target price on shares of Gold Royalty in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $5.39.

Gold Royalty Price Performance

NYSE:GROY opened at $4.93 on Thursday. Gold Royalty has a one year low of $1.20 and a one year high of $5.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $973.63 million, a PE ratio of -37.92 and a beta of 0.98. The firm’s 50 day simple moving average is $4.21 and its 200 day simple moving average is $3.62.

Institutional Investors Weigh In On Gold Royalty

Large investors have recently bought and sold shares of the stock. Groupe la Francaise grew its stake in shares of Gold Royalty by 594.7% in 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. XTX Topco Ltd boosted its holdings in Gold Royalty by 496.9% in the second quarter. XTX Topco Ltd now owns 377,394 shares of the company’s stock worth $834,000 after acquiring an additional 314,170 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Gold Royalty by 140.7% in the first quarter. Goldman Sachs Group Inc. now owns 99,504 shares of the company’s stock valued at $143,000 after acquiring an additional 58,172 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Gold Royalty by 257.9% during the second quarter. Quadrature Capital Ltd now owns 177,498 shares of the company’s stock valued at $393,000 after acquiring an additional 127,904 shares in the last quarter. Finally, PFG Investments LLC bought a new stake in shares of Gold Royalty during the second quarter valued at approximately $43,000. 33.75% of the stock is currently owned by institutional investors and hedge funds.

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.