Renaissance Technologies LLC Boosts Stock Holdings in Gold Royalty Corp. $GROY

Renaissance Technologies LLC lifted its position in shares of Gold Royalty Corp. (NYSEAMERICAN:GROY) by 560.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,016,825 shares of the company’s stock after acquiring an additional 1,711,425 shares during the period. Renaissance Technologies LLC owned approximately 0.87% of Gold Royalty worth $7,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GROY. Amundi bought a new position in Gold Royalty in the 1st quarter valued at approximately $695,000. Goldman Sachs Group Inc. increased its holdings in shares of Gold Royalty by 140.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 99,504 shares of the company’s stock worth $143,000 after purchasing an additional 58,172 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Gold Royalty by 1,918.6% in the second quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock worth $2,303,000 after purchasing an additional 990,515 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Gold Royalty in the second quarter worth $406,000. Finally, Walleye Capital LLC bought a new position in shares of Gold Royalty during the second quarter valued at $44,000. 33.75% of the stock is currently owned by hedge funds and other institutional investors.

Gold Royalty Stock Up 3.5%

NYSEAMERICAN:GROY opened at $2.69 on Wednesday. The business’s 50-day simple moving average is $2.78 and its two-hundred day simple moving average is $3.54. Gold Royalty Corp. has a 52 week low of $2.45 and a 52 week high of $5.45. The stock has a market cap of $620.88 million, a PE ratio of -15.82 and a beta of 0.94.

Gold Royalty (NYSEAMERICAN:GROY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $9.36 million during the quarter, compared to analyst estimates of $7.94 million. Gold Royalty had a positive return on equity of 0.44% and a negative net margin of 5.65%. Sell-side analysts anticipate that Gold Royalty Corp. will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on GROY. Scotiabank dropped their price objective on Gold Royalty from $6.00 to $5.75 and set an “outperform” rating on the stock in a research report on Tuesday, July 14th. Canaccord Genuity Group upgraded Gold Royalty from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Wednesday, April 29th. Finally, HC Wainwright upped their target price on shares of Gold Royalty from $6.75 to $7.75 and gave the company a “buy” rating in a report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.75.

Gold Royalty Profile

Gold Royalty Corp is a precious metals royalty and streaming company that focuses on acquiring and managing royalty interests in gold, silver and other metal assets. The company provides upfront funding to mining operators in exchange for a percentage of future metal production, offering an alternative financing model that can reduce capital requirements and accelerate development timelines for mining projects.

The firm’s diversified portfolio spans royalty and stream agreements across the Americas, with interests in operating mines, development?stage assets and advanced exploration projects.