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

Gold Royalty (NYSE:GROY) had its price objective trimmed by Scotiabank from $2.50 to $2.25 in a research report report published on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

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

Gold Royalty Price Performance

Shares of NYSE:GROY opened at $1.28 on Monday. The firm has a market cap of $216.41 million, a PE ratio of -9.77 and a beta of 0.94. The stock’s fifty day simple moving average is $1.38. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.63 and a current ratio of 1.63. Gold Royalty has a 1-year low of $1.17 and a 1-year high of $2.21.

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

Hedge Funds Weigh In On Gold Royalty

A number of large investors have recently bought and sold shares of GROY. XTX Topco Ltd purchased a new position in shares of Gold Royalty in the 3rd quarter valued at about $83,000. SageView Advisory Group LLC purchased a new position in shares of Gold Royalty in the 3rd quarter valued at about $34,000. Verition Fund Management LLC purchased a new position in shares of Gold Royalty in the 3rd quarter valued at about $32,000. Bank of Montreal Can increased its holdings in shares of Gold Royalty by 27.4% in the 3rd quarter. Bank of Montreal Can now owns 3,112,732 shares of the company’s stock valued at $4,296,000 after purchasing an additional 668,784 shares in the last quarter. Finally, Regal Partners Ltd increased its holdings in shares of Gold Royalty by 69.0% in the 3rd quarter. Regal Partners Ltd now owns 140,268 shares of the company’s stock valued at $191,000 after purchasing an additional 57,251 shares in the last quarter. Hedge funds and other 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.