Gold Royalty Corp. (NYSE:GROY) Receives $5.68 Average Target Price from Brokerages

Gold Royalty Corp. (NYSE:GROY) has been given a consensus rating of “Buy” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $5.6786.

A number of equities analysts recently weighed in on the company. Maxim Group set a $7.00 price target on Gold Royalty in a report on Friday, January 23rd. BMO Capital Markets restated an “outperform” rating and set a $4.75 price objective on shares of Gold Royalty in a research report on Tuesday, December 9th. Scotiabank lifted their price objective on Gold Royalty from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. National Bank Financial reiterated an “outperform” rating and issued a $5.50 price target on shares of Gold Royalty in a research note on Wednesday, December 10th. Finally, HC Wainwright boosted their target price on Gold Royalty from $6.25 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th.

Institutional Investors Weigh In On Gold Royalty

A number of institutional investors have recently made changes to their positions in GROY. CWA Asset Management Group LLC bought a new position in Gold Royalty in the 4th quarter valued at approximately $15,928,000. Mudita Advisors LLP bought a new position in shares of Gold Royalty during the 4th quarter worth $8,484,000. Amundi lifted its position in shares of Gold Royalty by 300.0% during the second quarter. Amundi now owns 2,000,000 shares of the company’s stock worth $4,520,000 after acquiring an additional 1,500,000 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Gold Royalty by 1,918.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock worth $2,303,000 after acquiring an additional 990,515 shares during the period. Finally, Acuitas Investments LLC purchased a new position in shares of Gold Royalty during the third quarter worth about $3,014,000. Institutional investors own 33.75% of the company’s stock.

Gold Royalty Trading Up 2.1%

GROY stock opened at $4.29 on Thursday. 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 capitalization of $847.24 million, a PE ratio of -33.00 and a beta of 0.98. The firm’s 50-day moving average is $4.38 and its 200 day moving average is $3.85. Gold Royalty has a 12 month low of $1.23 and a 12 month high of $5.45.

About Gold Royalty

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.