Raymond James Increases Earnings Estimates for Gold Royalty

Gold Royalty Corp. (NYSE:GROY) – Raymond James upped their FY2024 earnings per share (EPS) estimates for Gold Royalty in a research report issued on Tuesday, November 5th. Raymond James analyst B. Macarthur now expects that the company will earn ($0.01) per share for the year, up from their previous forecast of ($0.03). The consensus estimate for Gold Royalty’s current full-year earnings is ($0.03) per share.

Separately, HC Wainwright decreased their target price on shares of Gold Royalty from $5.75 to $5.50 and set a “buy” rating for the company in a research note on Tuesday.

Gold Royalty Trading Up 0.7 %

Shares of Gold Royalty stock opened at $1.42 on Friday. The business has a 50-day simple moving average of $1.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market cap of $240.08 million, a P/E ratio of -10.92 and a beta of 0.94. Gold Royalty has a 1 year low of $1.17 and a 1 year high of $2.21.

Gold Royalty (NYSE:GROY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Gold Royalty had a negative net margin of 381.76% and a negative return on equity of 0.53%. The business had revenue of $2.06 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its holdings in shares of Gold Royalty by 1.4% during the 3rd quarter. Van ECK Associates Corp now owns 6,753,002 shares of the company’s stock worth $10,062,000 after buying an additional 90,323 shares during the period. Renaissance Technologies LLC acquired a new position in Gold Royalty in the 2nd quarter valued at approximately $1,345,000. GSA Capital Partners LLP increased its position in shares of Gold Royalty by 39.2% during the third quarter. GSA Capital Partners LLP now owns 779,331 shares of the company’s stock valued at $1,060,000 after purchasing an additional 219,351 shares during the period. Ghisallo Capital Management LLC acquired a new position in shares of Gold Royalty in the second quarter valued at $705,000. Finally, Regal Partners Ltd lifted its position in Gold Royalty by 69.0% in the third quarter. Regal Partners Ltd now owns 140,268 shares of the company’s stock worth $191,000 after purchasing an additional 57,251 shares during the period. Institutional investors and hedge funds own 33.75% of the company’s stock.

Gold Royalty Company 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.