HC Wainwright Issues Pessimistic Forecast for Gold Royalty (NYSE:GROY) Stock Price

Gold Royalty (NYSE:GROY) had its target price dropped by analysts at HC Wainwright from $5.75 to $5.50 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 302.93% from the company’s previous close.

Gold Royalty Stock Performance

Gold Royalty stock opened at $1.37 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.69 and a current ratio of 1.69. Gold Royalty has a fifty-two week low of $1.17 and a fifty-two week high of $2.21. The stock’s 50-day moving average price is $1.37.

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, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $2.06 million during the quarter. Gold Royalty had a negative return on equity of 0.53% and a negative net margin of 381.76%. As a group, equities analysts expect that Gold Royalty will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gold Royalty

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Regal Partners Ltd increased its holdings in Gold Royalty by 69.0% during the third quarter. Regal Partners Ltd now owns 140,268 shares of the company’s stock worth $191,000 after buying an additional 57,251 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Gold Royalty by 39.2% during the 3rd quarter. GSA Capital Partners LLP now owns 779,331 shares of the company’s stock worth $1,060,000 after purchasing an additional 219,351 shares during the last quarter. Oxbow Advisors LLC bought a new position in Gold Royalty during the third quarter valued at $49,000. Van ECK Associates Corp increased its position in Gold Royalty by 1.4% in the third 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 last quarter. Finally, Bayshore Asset Management LLC bought a new stake in shares of Gold Royalty in the third quarter valued at $61,000. 33.75% of the stock is owned by hedge funds and other institutional investors.

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.