Gold Royalty (NYSE:GROY) Price Target Lowered to $2.25 at Scotiabank

Gold Royalty (NYSE:GROY) had its price target decreased by Scotiabank from $2.50 to $2.25 in a report issued on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Separately, HC Wainwright cut their price target on shares of Gold Royalty from $5.75 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

Gold Royalty Stock Performance

GROY opened at $1.28 on Monday. The business has a 50 day moving average of $1.38. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.63 and a quick ratio of 1.63. Gold Royalty has a 1 year low of $1.17 and a 1 year high of $2.21. The firm has a market capitalization of $216.41 million, a PE ratio of -9.77 and a beta of 0.94.

Gold Royalty (NYSE:GROY) last released its earnings results on Monday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. Gold Royalty had a negative net margin of 252.16% and a positive return on equity of 0.46%. The business had revenue of $2.06 million for the quarter. As a group, sell-side analysts expect that Gold Royalty will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of Gold Royalty

A number of hedge funds have recently made changes to their positions in GROY. AlphaQ Advisors LLC raised its stake in shares of Gold Royalty by 62.2% during the second quarter. AlphaQ Advisors LLC now owns 84,260 shares of the company’s stock valued at $119,000 after purchasing an additional 32,315 shares during the period. Van ECK Associates Corp raised its stake in shares of Gold Royalty by 11.9% during the second quarter. Van ECK Associates Corp now owns 6,662,679 shares of the company’s stock valued at $9,394,000 after purchasing an additional 709,002 shares during the period. Regal Partners Ltd increased its stake in shares of Gold Royalty by 101.9% in the second quarter. Regal Partners Ltd now owns 83,017 shares of the company’s stock worth $120,000 after buying an additional 41,899 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Gold Royalty in the second quarter worth $1,345,000. Finally, Marshall Wace LLP bought a new stake in shares of Gold Royalty in the second quarter worth $148,000. 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.