Gold Royalty (NYSE:GROY) Trading Down 5.7% – Time to Sell?

Gold Royalty Corp. (NYSE:GROY) dropped 5.7% on Wednesday . The company traded as low as $4.88 and last traded at $4.9150. Approximately 4,435,707 shares traded hands during trading, an increase of 18% from the average daily volume of 3,756,490 shares. The stock had previously closed at $5.21.

Wall Street Analyst Weigh In

GROY has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $4.75 target price on shares of Gold Royalty in a research report on Tuesday, December 9th. Zacks Research raised shares of Gold Royalty from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Scotiabank set a $5.00 price objective on shares of Gold Royalty and gave the stock an “outperform” rating in a research report on Friday, December 12th. Raymond James Financial set a $4.50 target price on shares of Gold Royalty and gave the company an “outperform” rating in a report on Friday, October 10th. Finally, HC Wainwright upped their price target on Gold Royalty from $6.25 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $5.11.

Gold Royalty Stock Down 5.4%

The business’s fifty day moving average is $4.19 and its two-hundred day moving average is $3.61. The stock has a market cap of $973.63 million, a price-to-earnings ratio of -37.92 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.

Institutional Trading of Gold Royalty

A number of large investors have recently modified their holdings of GROY. Pacifica Partners Inc. purchased a new stake in Gold Royalty during the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. grew its position in shares of Gold Royalty by 68.0% during the second 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 acquired a new position in shares of Gold Royalty during the second quarter worth about $43,000. Walleye Capital LLC purchased a new stake in shares of Gold Royalty during the second quarter worth approximately $44,000. Finally, Raymond James Financial Inc. raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 33.75% of the company’s stock.

About Gold Royalty

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.