U S Global Investors Inc. bought a new stake in Gold Royalty Corp. (NYSEAMERICAN:GROY – Free Report) in the third quarter, HoldingsChannel reports. The institutional investor bought 1,708,319 shares of the company’s stock, valued at approximately $5,125,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of GROY. Renaissance Technologies LLC boosted its position in shares of Gold Royalty by 560.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,016,825 shares of the company’s stock worth $7,220,000 after purchasing an additional 1,711,425 shares in the last quarter. Extract Advisors LLC acquired a new position in shares of Gold Royalty during the 1st quarter worth $4,827,000. Groupe la Francaise increased its holdings in shares of Gold Royalty by 88.9% in the 1st quarter. Groupe la Francaise now owns 1,700,000 shares of the company’s stock valued at $6,067,000 after purchasing an additional 800,000 shares in the last quarter. Amundi increased its holdings in shares of Gold Royalty by 20.0% in the 1st quarter. Amundi now owns 3,000,000 shares of the company’s stock valued at $10,740,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in shares of Gold Royalty in the 2nd quarter valued at about $136,000. Institutional investors and hedge funds own 33.75% of the company’s stock.
Gold Royalty Stock Performance
Shares of GROY stock opened at $2.84 on Friday. The stock has a fifty day moving average price of $3.18 and a 200 day moving average price of $3.12. The stock has a market cap of $655.50 million, a PE ratio of 284.28 and a beta of 1.10. Gold Royalty Corp. has a 1 year low of $2.45 and a 1 year high of $5.45.
Gold Royalty (NYSEAMERICAN:GROY – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $7.93 million for the quarter, compared to analyst estimates of $8.34 million. Gold Royalty had a return on equity of 0.68% and a net margin of 6.65%. As a group, equities research analysts predict that Gold Royalty Corp. will post 0.05 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts recently commented on GROY shares. TD set a $4.00 price objective on shares of Gold Royalty and gave the company a “buy” rating in a research note on Thursday, October 8th. TD Securities initiated coverage on shares of Gold Royalty in a research report on Thursday, October 8th. They set a “buy” rating and a $4.00 target price on the stock. HC Wainwright lowered their target price on shares of Gold Royalty from $7.75 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Scotiabank dropped their target price on shares of Gold Royalty from $6.00 to $5.75 and set an “outperform” rating for the company in a report on Tuesday, July 14th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.38.
Check Out Our Latest Research Report on Gold Royalty
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.
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