Gold Royalty (NYSEAMERICAN:GROY) Shares Gap Up – Should You Buy?

Shares of Gold Royalty Corp. (NYSEAMERICAN:GROY) gapped up before the market opened on Thursday. The stock had previously closed at $2.89, but opened at $3.44. Gold Royalty shares last traded at $3.1450, with a volume of 1,202,119 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GROY shares. TD set a $4.00 price objective on shares of Gold Royalty and gave the company a “buy” rating in a research report on Thursday, October 8th. HC Wainwright reduced their target price on shares of Gold Royalty from $7.75 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Scotiabank lowered their target price on Gold Royalty from $6.00 to $5.75 and set an “outperform” rating for the company in a report on Tuesday, July 14th. Finally, TD Securities started coverage on Gold Royalty in a report on Thursday, October 8th. They issued a “buy” rating and a $4.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.38.

Gold Royalty Stock Up 4.0%

The firm has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $3.39. The stock has a market cap of $693.58 million, a P/E ratio of 301.80 and a beta of 1.15.

Gold Royalty (NYSEAMERICAN:GROY) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $10.25 million for the quarter, compared to the consensus estimate of $8.87 million. Gold Royalty had a net margin of 6.65% and a return on equity of 0.68%. On average, equities analysts anticipate that Gold Royalty Corp. will post 0.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GROY. CenterBook Partners LP grew its stake in Gold Royalty by 87.6% during the third quarter. CenterBook Partners LP now owns 1,003,355 shares of the company’s stock worth $3,010,000 after buying an additional 468,543 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Gold Royalty in the 3rd quarter valued at approximately $41,000. U S Global Investors Inc. acquired a new position in shares of Gold Royalty in the 3rd quarter valued at approximately $5,125,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Gold Royalty by 147.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 20,380 shares of the company’s stock worth $61,000 after acquiring an additional 12,128 shares during the period. Finally, Engineers Gate Manager LP bought a new stake in shares of Gold Royalty during the 2nd quarter worth approximately $136,000. Institutional investors own 33.75% of the company’s stock.

About Gold Royalty

Gold Royalty Corp. is a precious-metals royalty and streaming company focused primarily on gold. Rather than operating mines directly, the company provides capital to mining companies in exchange for royalty interests, streams and other contractual rights tied to future production or revenue from mineral projects.

Gold Royalty’s portfolio includes interests in exploration, development and producing properties, with exposure concentrated in the Americas. Its assets span mining jurisdictions including Canada, the United States, Mexico and other countries in Latin America.