HC Wainwright Increases Gold Royalty (NYSE:GROY) Price Target to $5.75

Gold Royalty (NYSE:GROY) had its target price raised by analysts at HC Wainwright from $5.50 to $5.75 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 325.93% from the company’s previous close.

Separately, Scotiabank cut their target price on shares of Gold Royalty from $2.50 to $2.25 and set a “sector outperform” rating for the company in a research report on Monday, November 25th.

Gold Royalty Stock Up 1.5 %

NYSE:GROY opened at $1.35 on Wednesday. Gold Royalty has a 1-year low of $1.16 and a 1-year high of $2.21. The firm has a market capitalization of $228.24 million, a price-to-earnings ratio of -10.38 and a beta of 0.89. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09. The business’s fifty day moving average price is $1.24 and its 200 day moving average price is $1.31.

Gold Royalty (NYSE:GROY) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $2.06 million during the quarter. Gold Royalty had a negative net margin of 252.16% and a positive return on equity of 0.46%. On average, sell-side analysts forecast that Gold Royalty will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gold Royalty

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in shares of Gold Royalty by 27.4% during the 3rd quarter. Bank of Montreal Can now owns 3,112,732 shares of the company’s stock worth $4,296,000 after acquiring an additional 668,784 shares in the last quarter. XTX Topco Ltd bought a new stake in Gold Royalty during the third quarter worth approximately $83,000. Verition Fund Management LLC acquired a new stake in shares of Gold Royalty in the third quarter worth $32,000. Van ECK Associates Corp boosted its holdings in shares of Gold Royalty by 1.4% during the 3rd quarter. Van ECK Associates Corp now owns 6,753,002 shares of the company’s stock worth $10,062,000 after buying an additional 90,323 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in shares of Gold Royalty by 39.2% during the 3rd quarter. GSA Capital Partners LLP now owns 779,331 shares of the company’s stock worth $1,060,000 after buying an additional 219,351 shares during the period. Institutional investors and hedge funds own 33.75% of the company’s stock.

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.