Gold Royalty (NYSE:GROY) Trading Down 4.1% – Here’s Why

Gold Royalty Corp. (NYSE:GROY)’s share price was down 4.1% during mid-day trading on Tuesday . The stock traded as low as $4.07 and last traded at $4.0850. Approximately 425,016 shares traded hands during trading, a decline of 80% from the average daily volume of 2,137,026 shares. The stock had previously closed at $4.26.

Analyst Upgrades and Downgrades

GROY has been the topic of a number of research reports. Scotiabank increased their price objective on Gold Royalty from $3.30 to $4.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Zacks Research lowered shares of Gold Royalty from a “strong-buy” rating to a “hold” rating in a research note on Friday. Raymond James Financial set a $4.50 price target on shares of Gold Royalty and gave the company an “outperform” rating in a report on Friday, October 10th. Maxim Group assumed coverage on shares of Gold Royalty in a report on Thursday, September 11th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, HC Wainwright increased their target price on shares of Gold Royalty from $5.75 to $6.25 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Gold Royalty presently has an average rating of “Moderate Buy” and an average price target of $4.75.

Gold Royalty Trading Down 1.3%

The company’s fifty day moving average is $3.70 and its 200-day moving average is $3.03. 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 firm has a market capitalization of $716.83 million, a P/E ratio of -32.27 and a beta of 0.99.

Hedge Funds Weigh In On Gold Royalty

A number of institutional investors have recently made changes to their positions in GROY. Pacifica Partners Inc. acquired a new position in shares of Gold Royalty during the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. increased its position 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 during the period. PFG Investments LLC bought a new position in Gold Royalty in the 2nd quarter worth approximately $43,000. Walleye Capital LLC acquired a new position in shares of Gold Royalty during the second quarter worth approximately $44,000. Finally, Raymond James Financial Inc. boosted its position in shares of 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 period. 33.75% of the stock is currently owned by institutional investors.

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.