HC Wainwright Cuts Gold Royalty (NYSE:GROY) Price Target to $5.50

Gold Royalty (NYSE:GROY) had its price objective cut by HC Wainwright from $5.75 to $5.50 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Gold Royalty’s FY2024 earnings at $0.00 EPS and FY2025 earnings at $0.05 EPS.

Gold Royalty Stock Up 1.4 %

Shares of Gold Royalty stock traded up $0.02 during trading on Tuesday, hitting $1.43. 508,029 shares of the stock traded hands, compared to its average volume of 910,950. The business has a fifty day simple moving average of $1.37. The company has a market capitalization of $241.77 million, a PE ratio of -10.92 and a beta of 0.94. Gold Royalty has a 52 week low of $1.17 and a 52 week high of $2.21. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.69 and a current ratio of 1.69.

Gold Royalty (NYSE:GROY) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Gold Royalty had a negative net margin of 381.76% and a negative return on equity of 0.53%. The firm had revenue of $2.06 million during the quarter. On average, analysts forecast that Gold Royalty will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gold Royalty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQ Advisors LLC increased its stake in Gold Royalty by 62.2% in the 2nd quarter. AlphaQ Advisors LLC now owns 84,260 shares of the company’s stock worth $119,000 after purchasing an additional 32,315 shares during the period. Oxbow Advisors LLC purchased a new position in shares of Gold Royalty in the third quarter valued at about $49,000. Regal Partners Ltd raised its stake in shares of Gold Royalty by 101.9% during the second quarter. Regal Partners Ltd now owns 83,017 shares of the company’s stock valued at $120,000 after acquiring an additional 41,899 shares during the last quarter. Bayshore Asset Management LLC purchased a new stake in shares of Gold Royalty during the third quarter worth about $61,000. Finally, Van ECK Associates Corp grew its stake in shares of Gold Royalty by 1.4% in the third quarter. Van ECK Associates Corp now owns 6,753,002 shares of the company’s stock worth $10,062,000 after purchasing an additional 90,323 shares during the last quarter. Institutional investors own 33.75% of the company’s stock.

About Gold Royalty

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.