Van ECK Associates Corp Lowers Position in Gold Royalty Corp. (NYSE:GROY)

Van ECK Associates Corp decreased its stake in Gold Royalty Corp. (NYSE:GROY - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,271,645 shares of the company's stock after selling 481,357 shares during the period. Van ECK Associates Corp owned 3.71% of Gold Royalty worth $7,589,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new position in shares of Gold Royalty during the 3rd quarter worth $32,000. SageView Advisory Group LLC bought a new position in Gold Royalty during the third quarter worth about $34,000. Oxbow Advisors LLC bought a new position in Gold Royalty during the third quarter worth about $49,000. Bayshore Asset Management LLC purchased a new position in shares of Gold Royalty in the third quarter worth about $61,000. Finally, XTX Topco Ltd bought a new stake in shares of Gold Royalty in the third quarter valued at approximately $83,000. 33.75% of the stock is currently owned by hedge funds and other institutional investors.

Gold Royalty Price Performance

Shares of GROY stock traded down $0.04 during trading hours on Friday, reaching $1.41. The stock had a trading volume of 1,355,028 shares, compared to its average volume of 916,492. The stock's fifty day simple moving average is $1.28 and its 200 day simple moving average is $1.32. The firm has a market capitalization of $238.39 million, a PE ratio of -10.85 and a beta of 0.89. Gold Royalty Corp. has a 12 month low of $1.16 and a 12 month high of $2.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09.

Analyst Upgrades and Downgrades

GROY has been the subject of several analyst reports. Scotiabank cut their price objective on shares of Gold Royalty from $2.50 to $2.25 and set a "sector outperform" rating for the company in a report on Monday, November 25th. HC Wainwright raised their price target on Gold Royalty from $5.50 to $5.75 and gave the stock a "buy" rating in a report on Wednesday, February 5th.

Gold Royalty Profile

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.