HC Wainwright Reiterates Buy Rating for Gold Royalty (NYSEAMERICAN:GROY)

Gold Royalty (NYSEAMERICAN:GROY)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $5.75 target price on the stock. HC Wainwright’s price objective points to a potential upside of 187.50% from the company’s current price. HC Wainwright also issued estimates for Gold Royalty’s FY2024 earnings at ($0.02) EPS.

Gold Royalty Stock Up 0.5 %

Shares of GROY stock opened at $2.00 on Tuesday. The firm has a market capitalization of $291.44 million, a P/E ratio of -11.11 and a beta of 1.19. Gold Royalty has a one year low of $1.18 and a one year high of $2.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.44 and a quick ratio of 1.44.

Gold Royalty (NYSEAMERICAN:GROY) last issued its earnings results on Wednesday, March 27th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. The firm had revenue of $1.02 million during the quarter. Gold Royalty had a negative return on equity of 0.75% and a negative net margin of 877.82%. On average, research analysts forecast that Gold Royalty will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Gold Royalty

Several hedge funds have recently added to or reduced their stakes in GROY. Van ECK Associates Corp lifted its holdings in shares of Gold Royalty by 9.8% during the 4th quarter. Van ECK Associates Corp now owns 5,898,131 shares of the company’s stock valued at $8,670,000 after purchasing an additional 525,594 shares in the last quarter. Rathbones Group PLC acquired a new stake in Gold Royalty in the 3rd quarter valued at approximately $67,000. Peregrine Asset Advisers Inc. acquired a new stake in Gold Royalty in the 4th quarter valued at approximately $59,000. Austin Wealth Management LLC acquired a new stake in Gold Royalty in the 4th quarter valued at approximately $44,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Gold Royalty in the 3rd quarter valued at approximately $27,000. Institutional investors own 33.75% of the company’s stock.

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 attractive returns for its investors.