Gold Royalty (NYSE:GROY) Trading Down 4.1% – Time to Sell?

Shares of Gold Royalty Corp. (NYSE:GROY) were down 4.1% on Tuesday . The stock traded as low as $4.07 and last traded at $4.0850. Approximately 425,016 shares changed 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 Ratings Changes

A number of equities research analysts recently issued reports on GROY shares. Raymond James Financial set a $4.50 price objective on shares of Gold Royalty and gave the company an “outperform” rating in a report on Friday, October 10th. Zacks Research cut shares of Gold Royalty from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Scotiabank lifted their price target on shares of Gold Royalty from $3.30 to $4.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Maxim Group started coverage on Gold Royalty in a research report on Thursday, September 11th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, HC Wainwright lifted their target price on Gold Royalty from $5.75 to $6.25 and gave the company 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.com, Gold Royalty currently has an average rating of “Moderate Buy” and an average target price of $4.75.

Gold Royalty Trading Up 5.3%

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 company has a market cap of $746.66 million, a PE ratio of -33.69 and a beta of 0.97. The company has a fifty day simple moving average of $3.74 and a two-hundred day simple moving average of $3.07.

Institutional Trading of Gold Royalty

Several institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in Gold Royalty during the 1st quarter worth approximately $91,000. Zazove Associates LLC boosted its holdings in shares of Gold Royalty by 42.8% in the first quarter. Zazove Associates LLC now owns 629,758 shares of the company’s stock valued at $907,000 after acquiring an additional 188,758 shares during the period. Groupe la Francaise purchased a new position in shares of Gold Royalty during the first quarter worth approximately $129,000. Amundi purchased a new position in Gold Royalty during the 1st quarter worth $695,000. Finally, Goldman Sachs Group Inc. boosted its stake 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. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Gold Royalty Company Profile

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.