Gold Royalty (NYSEAMERICAN:GROY) Shares Gap Up – Still a Buy?

Gold Royalty Corp. (NYSEAMERICAN:GROY) gapped up before the market opened on Monday . The stock had previously closed at $3.32, but opened at $3.48. Gold Royalty shares last traded at $3.3750, with a volume of 511,526 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. National Bank Financial reissued an “outperform” rating and issued a $5.50 price objective on shares of Gold Royalty in a research note on Wednesday, December 10th. Scotiabank lifted their target price on Gold Royalty from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Maxim Group set a $7.00 price target on shares of Gold Royalty in a research report on Friday, January 23rd. HC Wainwright cut their price target on shares of Gold Royalty from $7.00 to $6.75 and set a “buy” rating for the company in a report on Friday, March 20th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $5.00 price objective (up from $4.50) on shares of Gold Royalty in a research note on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.64.

Gold Royalty Stock Up 0.2%

The company has a market capitalization of $767.38 million, a price-to-earnings ratio of -165.75 and a beta of 0.96. The business has a 50-day moving average price of $4.26 and a 200-day moving average price of $4.03.

Institutional Trading of Gold Royalty

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Gold Royalty by 363,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,278 shares of the company’s stock worth $29,000 after buying an additional 7,276 shares during the period. Pacifica Partners Inc. acquired a new stake in shares of Gold Royalty during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. lifted its position in shares of Gold Royalty by 68.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 16,800 shares of the company’s stock valued at $37,000 after acquiring an additional 6,800 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in shares of Gold Royalty in the 4th quarter valued at approximately $40,000. Finally, Aptus Capital Advisors LLC acquired a new position in Gold Royalty in the 4th quarter worth approximately $40,000. 33.75% of the stock is owned by hedge funds and other institutional investors.

About Gold Royalty

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.