Gold Royalty Corp. (NYSEAMERICAN:GROY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Gold Royalty Corp. (NYSEAMERICAN:GROY) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $5.64.

A number of brokerages have recently commented on GROY. HC Wainwright cut their price target on Gold Royalty from $7.75 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Scotiabank lowered their price objective on Gold Royalty from $6.00 to $5.75 and set an “outperform” rating for the company in a research note on Tuesday, July 14th.

Hedge Funds Weigh In On Gold Royalty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AXQ Capital LP bought a new position in shares of Gold Royalty during the second quarter valued at $29,000. Kestra Advisory Services LLC raised its position in Gold Royalty by 118.8% during the 1st quarter. Kestra Advisory Services LLC now owns 10,939 shares of the company’s stock worth $39,000 after purchasing an additional 5,939 shares during the last quarter. NewEdge Advisors LLC bought a new position in Gold Royalty during the 1st quarter worth $40,000. Prospect Financial Group LLC acquired a new position in Gold Royalty during the 2nd quarter worth about $43,000. Finally, First Trust Advisors LP acquired a new position in Gold Royalty during the 1st quarter worth about $43,000. 33.75% of the stock is currently owned by institutional investors and hedge funds.

Gold Royalty Stock Performance

Shares of GROY opened at $3.05 on Friday. Gold Royalty has a 52 week low of $2.45 and a 52 week high of $5.45. The stock has a market capitalization of $703.97 million, a price-to-earnings ratio of 305.31 and a beta of 0.99. The stock has a fifty day moving average of $3.13 and a 200-day moving average of $3.18.

Gold Royalty (NYSEAMERICAN:GROY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Gold Royalty had a return on equity of 0.68% and a net margin of 6.65%.The business had revenue of $7.93 million for the quarter, compared to analyst estimates of $8.34 million. As a group, equities analysts forecast that Gold Royalty will post 0.05 EPS for the current year.

About Gold Royalty

Gold Royalty Corp. (NYSE American: GROY) is a precious-metals royalty and streaming company. Rather than operating mines directly, the company provides financing to mining and exploration companies in exchange for contractual interests in future production, such as royalties, streams and other mineral-rights payments.

Its portfolio is focused primarily on gold properties in the Americas, with exposure to mining districts in the United States, Canada and Mexico. Gold Royalty’s interests may cover producing, development-stage and exploration properties, allowing the company to participate in potential mineral production without bearing the direct operating and capital costs associated with owning and running mines.

Gold Royalty was established as part of the growth of the modern precious-metals royalty sector and became publicly listed in 2021.