Scotiabank Issues Pessimistic Forecast for Gold Royalty (NYSE:GROY) Stock Price

Gold Royalty (NYSE:GROY) had its price objective cut by equities research analysts at Scotiabank from $2.50 to $2.25 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 78.57% from the stock’s current price.

Separately, HC Wainwright cut their price target on shares of Gold Royalty from $5.75 to $5.50 and set a “buy” rating for the company in a report on Tuesday, November 5th.

Gold Royalty Stock Down 1.6 %

Shares of NYSE:GROY traded down $0.02 during trading on Monday, reaching $1.26. 917,231 shares of the company’s stock traded hands, compared to its average volume of 917,905. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09. Gold Royalty has a fifty-two week low of $1.17 and a fifty-two week high of $2.21. The stock has a 50-day simple moving average of $1.39. The stock has a market cap of $213.03 million, a price-to-earnings ratio of -9.69 and a beta of 0.94.

Gold Royalty (NYSE:GROY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $2.06 million for the quarter. Gold Royalty had a positive return on equity of 0.46% and a negative net margin of 252.16%. On average, equities research analysts forecast that Gold Royalty will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new stake in Gold Royalty in the 3rd quarter valued at about $32,000. SageView Advisory Group LLC purchased a new stake in shares of Gold Royalty in the third quarter valued at approximately $34,000. AlphaQ Advisors LLC increased its holdings in shares of Gold Royalty by 62.2% in the second quarter. AlphaQ Advisors LLC now owns 84,260 shares of the company’s stock valued at $119,000 after purchasing an additional 32,315 shares during the last quarter. Oxbow Advisors LLC purchased a new position in Gold Royalty during the third quarter worth approximately $49,000. Finally, Regal Partners Ltd grew its holdings in Gold Royalty by 101.9% in the 2nd quarter. Regal Partners Ltd now owns 83,017 shares of the company’s stock valued at $120,000 after buying an additional 41,899 shares in the last quarter. 33.75% of the stock is owned by institutional investors and hedge funds.

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.