Gold Royalty (NYSEAMERICAN:GROY) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Gold Royalty Corp. (NYSEAMERICAN:GROY)’s share price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $3.08 and traded as high as $3.44. Gold Royalty shares last traded at $3.11, with a volume of 4,809,986 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. HC Wainwright reduced their target price on Gold Royalty from $7.75 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Scotiabank lowered their price target on Gold Royalty from $6.00 to $5.75 and set an “outperform” rating for the company in a report on Tuesday, July 14th. TD Securities assumed coverage on Gold Royalty in a research report on Thursday, October 8th. They set a “buy” rating and a $4.00 price objective for the company. Finally, TD set a $4.00 price objective on shares of Gold Royalty and gave the company a “buy” rating in a report on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Gold Royalty currently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Gold Royalty Price Performance

The company’s 50 day simple moving average is $3.08 and its 200 day simple moving average is $3.38. The firm has a market cap of $717.82 million, a price-to-earnings ratio of 77.77 and a beta of 1.15.

Gold Royalty (NYSEAMERICAN:GROY) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $10.25 million during the quarter, compared to the consensus estimate of $10.25 million. Gold Royalty had a net margin of 22.58% and a return on equity of 1.25%. As a group, analysts forecast that Gold Royalty Corp. will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On Gold Royalty

A number of institutional investors have recently added to or reduced their stakes in GROY. Amundi boosted its position in Gold Royalty by 20.0% during the 1st quarter. Amundi now owns 3,000,000 shares of the company’s stock worth $10,740,000 after purchasing an additional 500,000 shares during the period. Renaissance Technologies LLC raised its position in Gold Royalty by 560.4% in the first quarter. Renaissance Technologies LLC now owns 2,016,825 shares of the company’s stock valued at $7,220,000 after purchasing an additional 1,711,425 shares during the period. Groupe la Francaise raised its position in Gold Royalty by 5.9% in the second quarter. Groupe la Francaise now owns 1,800,000 shares of the company’s stock valued at $4,972,000 after purchasing an additional 100,000 shares during the period. U S Global Investors Inc. acquired a new position in shares of Gold Royalty during the third quarter worth about $5,125,000. Finally, Extract Advisors LLC acquired a new position in shares of Gold Royalty during the first quarter worth about $4,827,000. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Gold Royalty Company Profile

Gold Royalty Corp. is a precious-metals royalty and streaming company focused primarily on gold. Rather than operating mines directly, the company provides capital to mining companies in exchange for royalty interests, streams and other contractual rights tied to future production or revenue from mineral projects.

Gold Royalty’s portfolio includes interests in exploration, development and producing properties, with exposure concentrated in the Americas. Its assets span mining jurisdictions including Canada, the United States, Mexico and other countries in Latin America.