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

Gold Royalty (NYSE:GROY) had its target price decreased by HC Wainwright from $5.75 to $5.50 in a report issued on Tuesday morning,Benzinga reports. HC Wainwright currently has 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 Performance

Gold Royalty stock opened at $1.42 on Tuesday. Gold Royalty has a 52 week low of $1.17 and a 52 week high of $2.21. The firm has a market capitalization of $240.08 million, a price-to-earnings ratio of -10.92 and a beta of 0.94. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $1.37.

Gold Royalty (NYSE:GROY) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts predict that Gold Royalty will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Gold Royalty by 1.4% during the third quarter. Van ECK Associates Corp now owns 6,753,002 shares of the company’s stock valued at $10,062,000 after acquiring an additional 90,323 shares during the period. Renaissance Technologies LLC bought a new stake in Gold Royalty during the 2nd quarter worth about $1,345,000. GSA Capital Partners LLP lifted its position in 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 purchasing an additional 219,351 shares during the period. Ghisallo Capital Management LLC acquired a new position in Gold Royalty during the 2nd quarter valued at about $705,000. Finally, Regal Partners Ltd grew its position in shares of Gold Royalty by 69.0% during the 3rd quarter. Regal Partners Ltd now owns 140,268 shares of the company’s stock worth $191,000 after buying an additional 57,251 shares during the period. 33.75% of the stock is currently owned by 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.