Gold Royalty (NYSEAMERICAN:GROY) Shares Gap Down – Here’s Why

Gold Royalty Corp. (NYSEAMERICAN:GROY) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.59, but opened at $3.21. Gold Royalty shares last traded at $3.2440, with a volume of 2,008,513 shares.

Analysts Set New Price Targets

GROY has been the subject of several research reports. Scotiabank upped their target price on Gold Royalty from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. National Bank Financial reiterated an “outperform” rating and set a $5.50 target price on shares of Gold Royalty in a report on Wednesday, December 10th. BMO Capital Markets reissued an “outperform” rating and set a $4.75 target price on shares of Gold Royalty in a research report on Tuesday, December 9th. Zacks Research raised shares of Gold Royalty from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, Maxim Group set a $7.00 price objective on shares of Gold Royalty in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $5.68.

Gold Royalty Price Performance

The company has a market cap of $720.47 million, a PE ratio of -82.15 and a beta of 0.97. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.09. The firm has a 50 day simple moving average of $4.46 and a 200-day simple moving average of $4.05.

Hedge Funds Weigh In On Gold Royalty

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Gold Royalty by 363,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,278 shares of the company’s stock valued at $29,000 after purchasing an additional 7,276 shares during the last quarter. Pacifica Partners Inc. purchased a new position in shares of Gold Royalty in the 3rd quarter valued at approximately $32,000. SevenBridge Financial Group LLC purchased a new position in shares of Gold Royalty in the 4th quarter valued at approximately $40,000. Aptus Capital Advisors LLC acquired a new stake in Gold Royalty in the 4th quarter worth approximately $40,000. Finally, Leigh Baldwin & CO. LLC purchased a new stake in Gold Royalty during the 4th quarter worth approximately $41,000. 33.75% of the stock is owned by hedge funds and other institutional investors.

Gold Royalty Company Profile

Gold Royalty Corp is a precious metals royalty and streaming company that focuses on acquiring and managing royalty interests in gold, silver and other metal assets. The company provides upfront funding to mining operators in exchange for a percentage of future metal production, offering an alternative financing model that can reduce capital requirements and accelerate development timelines for mining projects.

The firm’s diversified portfolio spans royalty and stream agreements across the Americas, with interests in operating mines, development‐stage assets and advanced exploration projects.