Van ECK Associates Corp Purchases 709,002 Shares of Gold Royalty Corp. (NYSE:GROY)

Van ECK Associates Corp increased its position in Gold Royalty Corp. (NYSE:GROY) by 11.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,662,679 shares of the company’s stock after purchasing an additional 709,002 shares during the quarter. Van ECK Associates Corp’s holdings in Gold Royalty were worth $9,394,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, AlphaQ Advisors LLC boosted its stake in Gold Royalty by 62.2% during the second quarter. AlphaQ Advisors LLC now owns 84,260 shares of the company’s stock worth $119,000 after acquiring an additional 32,315 shares in the last quarter. 33.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GROY. 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 research note on Monday, June 3rd. HC Wainwright restated a “buy” rating and issued a $5.75 price target on shares of Gold Royalty in a research note on Thursday, August 15th. Finally, Raymond James upgraded Gold Royalty from a “hold” rating to a “moderate buy” rating and set a $2.75 price objective for the company in a research note on Monday, June 3rd.

Gold Royalty Stock Performance

Shares of Gold Royalty stock opened at $1.31 on Tuesday. The business has a 50-day moving average price of $1.38. The stock has a market capitalization of $221.48 million, a PE ratio of -7.71 and a beta of 0.97. Gold Royalty Corp. has a 52-week low of $1.18 and a 52-week high of $2.21. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 1.69.

Gold Royalty (NYSE:GROY) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $1.79 million during the quarter. Gold Royalty had a negative net margin of 381.76% and a negative return on equity of 0.53%. As a group, equities research analysts forecast that Gold Royalty Corp. will post -0.03 EPS for the current fiscal year.

Gold Royalty Profile

Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Gold Royalty Corp. is based in VANCOUVER, BC.