TD Securities began coverage on shares of Gold Royalty (NYSEAMERICAN:GROY – Get Free Report) in a report issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $4.00 price target on the stock. TD Securities’ price objective indicates a potential upside of 38.89% from the company’s previous close.
A number of other research firms also recently issued reports on GROY. HC Wainwright lowered their price objective on shares of Gold Royalty from $7.75 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Scotiabank decreased their target price on shares of Gold Royalty from $6.00 to $5.75 and set an “outperform” rating for the company in a research report on Tuesday, July 14th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gold Royalty currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.44.
View Our Latest Report on GROY
Gold Royalty Price Performance
Gold Royalty (NYSEAMERICAN:GROY – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The business 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%. Equities analysts expect that Gold Royalty will post 0.05 EPS for the current year.
Hedge Funds Weigh In On Gold Royalty
Institutional investors have recently added to or reduced their stakes in the company. Groupe la Francaise increased its stake in shares of Gold Royalty by 88.9% during the 1st quarter. Groupe la Francaise now owns 1,700,000 shares of the company’s stock worth $6,067,000 after purchasing an additional 800,000 shares during the last quarter. Amundi raised 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 during the period. Renaissance Technologies LLC lifted its stake in Gold Royalty by 560.4% in the 1st 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 last quarter. Extract Advisors LLC acquired a new stake in Gold Royalty in the 1st quarter valued at about $4,827,000. Finally, Cetera Investment Advisers bought a new position in Gold Royalty during the first quarter worth about $58,000. 33.75% of the stock is currently owned by institutional investors and hedge funds.
Gold Royalty Company Profile
Gold Royalty Corp. (NYSE American: GROY) is a precious metals royalty and streaming company focused primarily on gold assets. Rather than operating mines directly, the company provides capital or acquires interests in mining projects in exchange for royalty payments, metal streams or other contractual interests tied to future production.
Gold Royalty’s portfolio includes royalties and similar interests on exploration, development and producing properties. Its assets are located mainly in the Americas, including Canada, the United States and Latin America, and provide exposure to a range of gold projects operated by third-party mining companies.
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