Scotiabank Lowers Gold Royalty (NYSE:GROY) Price Target to $2.25

Gold Royalty (NYSE:GROY) had its price target trimmed by Scotiabank from $2.50 to $2.25 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

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

Gold Royalty Stock Up 0.8 %

Shares of Gold Royalty stock opened at $1.28 on Monday. The stock has a market capitalization of $216.41 million, a P/E ratio of -9.85 and a beta of 0.94. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $1.38. Gold Royalty has a 52 week low of $1.17 and a 52 week high of $2.21.

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

Institutional Trading of Gold Royalty

Several hedge funds have recently modified their holdings of GROY. Renaissance Technologies LLC purchased a new position in shares of Gold Royalty in the second quarter valued at $1,345,000. Ghisallo Capital Management LLC purchased a new position in shares of Gold Royalty in the 2nd quarter worth $705,000. Van ECK Associates Corp increased its holdings in shares of Gold Royalty by 11.9% in the 2nd quarter. Van ECK Associates Corp now owns 6,662,679 shares of the company’s stock worth $9,394,000 after buying an additional 709,002 shares during the last quarter. Oxbow Advisors LLC bought a new stake in shares of Gold Royalty in the 3rd quarter worth about $49,000. Finally, GSA Capital Partners LLP raised its position in shares of Gold Royalty by 39.2% during the 3rd quarter. GSA Capital Partners LLP now owns 779,331 shares of the company’s stock valued at $1,060,000 after buying an additional 219,351 shares in the last quarter. 33.75% of the stock is owned by hedge funds and other institutional investors.

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.