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

Gold Royalty Corp. (NYSE:GROY) has been given an average rating of “Buy” by the eight research firms that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $5.1071.

Several equities analysts have recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and set a $4.75 target price on shares of Gold Royalty in a research report on Tuesday, December 9th. National Bankshares reiterated an “outperform” rating and issued a $5.50 target price on shares of Gold Royalty in a report on Wednesday, December 10th. HC Wainwright upped their price objective on shares of Gold Royalty from $6.25 to $7.00 and gave the company a “buy” rating in a research report on Thursday. Zacks Research upgraded Gold Royalty from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Finally, Scotiabank set a $5.00 price target on Gold Royalty and gave the stock an “outperform” rating in a report on Friday, December 12th.

Institutional Investors Weigh In On Gold Royalty

Several large investors have recently made changes to their positions in the stock. Amundi bought a new stake in Gold Royalty in the 1st quarter valued at $695,000. Goldman Sachs Group Inc. boosted its position in shares of Gold Royalty by 140.7% during the first quarter. Goldman Sachs Group Inc. now owns 99,504 shares of the company’s stock worth $143,000 after buying an additional 58,172 shares during the period. PFG Investments LLC bought a new position in shares of Gold Royalty during the second quarter worth about $43,000. JPMorgan Chase & Co. raised its position in Gold Royalty by 1,918.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock valued at $2,303,000 after buying an additional 990,515 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in Gold Royalty by 496.9% in the 2nd 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 in the last quarter. Institutional investors own 33.75% of the company’s stock.

Gold Royalty Stock Up 0.8%

NYSE:GROY opened at $4.95 on Friday. The stock’s fifty day simple moving average is $4.10 and its 200-day simple moving average is $3.55. The firm has a market capitalization of $977.58 million, a P/E ratio of -38.08 and a beta of 0.98. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09. Gold Royalty has a 12-month low of $1.20 and a 12-month high of $5.05.

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.