Gold Royalty (NYSE:GROY) Raised to “Strong-Buy” at Zacks Research

Gold Royalty (NYSE:GROY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Scotiabank set a $5.00 price objective on Gold Royalty and gave the company an “outperform” rating in a research note on Friday, December 12th. National Bankshares reaffirmed an “outperform” rating and set a $5.50 price target on shares of Gold Royalty in a research note on Wednesday, December 10th. Raymond James Financial set a $4.50 price objective on shares of Gold Royalty and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $4.75 target price on shares of Gold Royalty in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat, Gold Royalty has an average rating of “Buy” and a consensus price target of $5.00.

Gold Royalty Price Performance

Gold Royalty stock traded up $0.09 during midday trading on Monday, reaching $4.87. The company’s stock had a trading volume of 1,500,607 shares, compared to its average volume of 3,059,532. 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 stock has a market cap of $960.79 million, a PE ratio of -37.42 and a beta of 0.98. Gold Royalty has a 52 week low of $1.20 and a 52 week high of $4.90. The business has a 50-day moving average price of $4.00 and a 200-day moving average price of $3.51.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GROY. Pacifica Partners Inc. purchased a new position in Gold Royalty during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. grew its stake in Gold Royalty by 68.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 16,800 shares of the company’s stock worth $37,000 after buying an additional 6,800 shares in the last quarter. PFG Investments LLC bought a new stake in shares of Gold Royalty during the 2nd quarter worth $43,000. Walleye Capital LLC bought a new position in Gold Royalty in the second quarter valued at $44,000. Finally, Raymond James Financial Inc. increased its stake in Gold Royalty by 1,190.4% in the third quarter. Raymond James Financial Inc. now owns 12,917 shares of the company’s stock valued at $50,000 after acquiring an additional 11,916 shares during the last quarter. 33.75% of the stock is currently owned by hedge funds and other institutional investors.

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.