Gold Royalty (NYSE:GROY) Shares Down 4.1% – Here’s What Happened

by · The Cerbat Gem

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GROY. Raymond James Financial set a $4.50 target price on shares of Gold Royalty and gave the company an “outperform” rating in a research note on Friday, October 10th. Zacks Research cut Gold Royalty from a “strong-buy” rating to a “hold” rating in a report on Friday. Scotiabank raised their price objective on Gold Royalty from $3.30 to $4.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. HC Wainwright boosted their price objective on Gold Royalty from $5.75 to $6.25 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Maxim Group assumed coverage on Gold Royalty in a research report on Thursday, September 11th. They issued a “buy” rating and a $6.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.75.

View Our Latest Analysis on GROY

Gold Royalty Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a 50 day moving average price of $3.70 and a two-hundred day moving average price of $3.03. The company has a market capitalization of $716.83 million, a P/E ratio of -32.27 and a beta of 0.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acuitas Investments LLC bought a new stake in shares of Gold Royalty in the 3rd quarter worth about $3,014,000. Voleon Capital Management LP acquired a new position in Gold Royalty in the third quarter valued at about $299,000. Qube Research & Technologies Ltd grew its stake in Gold Royalty by 248.5% during the third quarter. Qube Research & Technologies Ltd now owns 529,783 shares of the company’s stock worth $2,045,000 after buying an additional 377,782 shares during the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of Gold Royalty by 33.7% during the third quarter. Brevan Howard Capital Management LP now owns 82,445 shares of the company’s stock worth $318,000 after buying an additional 20,766 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Gold Royalty by 453.3% in the third quarter. Bank of America Corp DE now owns 546,646 shares of the company’s stock valued at $2,110,000 after acquiring an additional 447,852 shares during the last quarter. 33.75% of the stock is owned by institutional investors.

About Gold Royalty

(Get Free Report)

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.

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