Gold Royalty (NYSE:GROY) Trading Down 12.4% – Should You Sell?

Gold Royalty Corp. (NYSE:GROY) traded down 12.4% on Thursday . The stock traded as low as $1.28 and last traded at $1.34. 6,778,126 shares changed hands during mid-day trading, an increase of 578% from the average session volume of 1,000,317 shares. The stock had previously closed at $1.53.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of Gold Royalty from $2.50 to $2.25 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. HC Wainwright increased their target price on shares of Gold Royalty from $5.50 to $5.75 and gave the company a “buy” rating in a research note on Wednesday, February 5th.

Gold Royalty Trading Down 12.4 %

The stock has a market cap of $226.56 million, a P/E ratio of -10.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.63 and a quick ratio of 1.63. The business’s 50 day simple moving average is $1.36 and its 200 day simple moving average is $1.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC bought a new position in Gold Royalty during the third quarter worth about $32,000. SageView Advisory Group LLC bought a new position in Gold Royalty during the third quarter worth about $34,000. Total Wealth Planning & Management Inc. bought a new position in Gold Royalty during the fourth quarter worth about $31,000. Cubist Systematic Strategies LLC bought a new position in Gold Royalty during the fourth quarter worth about $46,000. Finally, Two Sigma Securities LLC bought a new position in Gold Royalty during the fourth quarter worth about $51,000. Institutional investors own 33.75% of the company’s stock.

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.