Short Interest in Gold Royalty Corp. (NYSEAMERICAN:GROY) Increases By 23.2%

Gold Royalty Corp. (NYSEAMERICAN:GROY) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 3,030,000 shares, a growth of 23.2% from the August 15th total of 2,460,000 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average daily volume of 973,100 shares, the days-to-cover ratio is currently 3.1 days.

Hedge Funds Weigh In On Gold Royalty

Hedge funds have recently made changes to their positions in the stock. Austin Wealth Management LLC purchased a new position in Gold Royalty during the fourth quarter worth about $44,000. Van ECK Associates Corp grew its stake in shares of Gold Royalty by 0.9% in the first quarter. Van ECK Associates Corp now owns 5,953,677 shares of the company’s stock worth $11,193,000 after purchasing an additional 55,546 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in Gold Royalty by 70.9% during the 1st quarter. GSA Capital Partners LLP now owns 257,222 shares of the company’s stock valued at $484,000 after purchasing an additional 106,700 shares during the period. 33.75% of the stock is currently owned by hedge funds and other institutional investors.

Gold Royalty Stock Down 5.0 %

GROY stock opened at $1.32 on Tuesday. Gold Royalty has a fifty-two week low of $1.17 and a fifty-two week high of $2.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $192.35 million, a P/E ratio of -7.76 and a beta of 1.02.

Gold Royalty (NYSEAMERICAN:GROY) last announced its earnings results on Tuesday, August 13th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $1.79 million during the quarter. Gold Royalty had a negative net margin of 484.60% and a negative return on equity of 0.68%. On average, sell-side analysts expect that Gold Royalty will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GROY has been the subject of several research analyst reports. BMO Capital Markets raised shares of Gold Royalty from a “market perform” rating to an “outperform” rating and set a $2.50 target price for the company in a report on Monday, June 3rd. Raymond James raised shares of Gold Royalty from a “market perform” rating to an “outperform” rating and set a $2.75 target price on the stock in a report on Monday, June 3rd.

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.