Gold Royalty (NYSE:GROY) Price Target Raised to $5.75

Gold Royalty (NYSE:GROY - Get Free Report) had its price objective upped by equities researchers at HC Wainwright from $5.50 to $5.75 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective suggests a potential upside of 291.16% from the company's previous close. HC Wainwright also issued estimates for Gold Royalty's FY2024 earnings at $0.01 EPS and FY2025 earnings at $0.07 EPS.

Separately, Scotiabank dropped their price objective on shares of Gold Royalty from $2.50 to $2.25 and set a "sector outperform" rating on the stock in a research note on Monday, November 25th.

Gold Royalty Stock Performance

Shares of GROY traded down $0.02 during mid-day trading on Wednesday, reaching $1.47. The company had a trading volume of 1,077,748 shares, compared to its average volume of 865,184. The stock has a market capitalization of $248.53 million, a P/E ratio of 149.00 and a beta of 0.89. Gold Royalty has a 52-week low of $1.16 and a 52-week high of $2.21. The stock has a 50 day moving average of $1.25 and a two-hundred day moving average of $1.31. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09.

Hedge Funds Weigh In On Gold Royalty

Hedge funds have recently bought and sold shares of the business. Sprott Inc. raised its stake in shares of Gold Royalty by 227.5% during the 4th quarter. Sprott Inc. now owns 363,841 shares of the company's stock worth $440,000 after buying an additional 252,735 shares during the period. XTX Topco Ltd acquired a new position in Gold Royalty during the third quarter worth $83,000. SageView Advisory Group LLC purchased a new position in Gold Royalty during the third quarter valued at $34,000. Verition Fund Management LLC acquired a new stake in shares of Gold Royalty in the third quarter valued at about $32,000. Finally, Bank of Montreal Can increased its stake in shares of Gold Royalty by 27.4% during the third quarter. Bank of Montreal Can now owns 3,112,732 shares of the company's stock worth $4,296,000 after purchasing an additional 668,784 shares in the last quarter. Hedge funds and other institutional investors own 33.75% of the company's stock.

About Gold Royalty

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.