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

Shares of Gold Royalty Corp. (NYSE:GROY) have been assigned an average recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $4.75.

A number of equities research analysts recently commented on GROY shares. HC Wainwright increased their price target on Gold Royalty from $5.75 to $6.25 and gave the company a “buy” rating in a research report on Thursday, August 7th. Raymond James Financial set a $4.50 target price on shares of Gold Royalty and gave the stock an “outperform” rating in a research note on Friday, October 10th. Maxim Group began coverage on shares of Gold Royalty in a research report on Thursday, September 11th. They set a “buy” rating and a $6.00 price target on the stock. Scotiabank upped their price objective on shares of Gold Royalty from $3.30 to $4.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Finally, Zacks Research raised shares of Gold Royalty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GROY. Amundi increased its position 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 last quarter. JPMorgan Chase & Co. increased its holdings in Gold Royalty by 1,918.6% during the second quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock worth $2,303,000 after buying an additional 990,515 shares during the last quarter. Acuitas Investments LLC purchased a new stake in Gold Royalty during the third quarter worth about $3,014,000. Groupe la Francaise raised its position in Gold Royalty by 594.7% in the second quarter. Groupe la Francaise now owns 600,000 shares of the company’s stock worth $1,320,000 after acquiring an additional 513,636 shares during the period. Finally, Bank of America Corp DE boosted its stake in Gold Royalty by 453.3% in the third quarter. Bank of America Corp DE now owns 546,646 shares of the company’s stock valued at $2,110,000 after acquiring an additional 447,852 shares during the last quarter. Institutional investors own 33.75% of the company’s stock.

Gold Royalty Stock Performance

Shares of GROY opened at $4.25 on Friday. The firm has a market capitalization of $723.65 million, a P/E ratio of -32.65 and a beta of 0.99. Gold Royalty has a 52 week low of $1.16 and a 52 week high of $4.44. The stock has a 50 day moving average price of $3.69 and a two-hundred day moving average price of $2.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.63 and a current ratio of 1.63.

About Gold Royalty

Gold Royalty Corp., a precious metals-focused royalty company, provides financing solutions to the metals and mining industry. It focuses on acquiring royalties, streams, and similar interests at varying stages of the mine life cycle to build a portfolio offering near, medium, and longer-term returns for its investors.