Gold Royalty (NYSEAMERICAN:GROY) Cut to Hold at Zacks Research

Gold Royalty (NYSEAMERICAN:GROY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

GROY has been the subject of several other research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $4.75 price target on shares of Gold Royalty in a report on Tuesday, December 9th. HC Wainwright cut their price objective on shares of Gold Royalty from $7.00 to $6.75 and set a “buy” rating on the stock in a report on Friday, March 20th. National Bank Financial restated an “outperform” rating and set a $5.50 price objective on shares of Gold Royalty in a research report on Wednesday, December 10th. Canaccord Genuity Group restated a “hold” rating and issued a $5.00 target price (up from $4.50) on shares of Gold Royalty in a report on Thursday, January 22nd. Finally, Maxim Group set a $7.00 target price on shares of Gold Royalty in a research report on Friday, January 23rd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.64.

Gold Royalty Stock Performance

NYSEAMERICAN:GROY opened at $3.34 on Tuesday. The stock has a 50-day simple moving average of $4.32 and a 200-day simple moving average of $4.04. The stock has a market cap of $770.84 million, a P/E ratio of -167.00 and a beta of 0.97. Gold Royalty has a 1 year low of $1.23 and a 1 year high of $5.45.

Institutional Investors Weigh In On Gold Royalty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acuitas Investments LLC acquired a new position in shares of Gold Royalty in the 3rd quarter valued at $3,014,000. Groupe la Francaise raised its position in Gold Royalty by 594.7% in the 2nd quarter. Groupe la Francaise now owns 600,000 shares of the company’s stock valued at $1,320,000 after purchasing an additional 513,636 shares during the last quarter. XTX Topco Ltd boosted its stake in Gold Royalty by 496.9% during the 2nd quarter. XTX Topco Ltd now owns 377,394 shares of the company’s stock worth $834,000 after purchasing an additional 314,170 shares during the period. CWA Asset Management Group LLC purchased a new position in Gold Royalty during the 4th quarter worth $15,928,000. Finally, Quadrature Capital Ltd grew its position in Gold Royalty by 257.9% during the 2nd quarter. Quadrature Capital Ltd now owns 177,498 shares of the company’s stock worth $393,000 after purchasing an additional 127,904 shares during the last quarter. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Gold Royalty Company 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.