Gold Royalty (NYSE:GROY) Sees Unusually-High Trading Volume Following Analyst Upgrade

Gold Royalty Corp. (NYSE:GROY) saw unusually-strong trading volume on Tuesday after Scotiabank raised their price target on the stock from $2.80 to $3.30. Scotiabank currently has a sector outperform rating on the stock. Approximately 1,534,507 shares were traded during mid-day trading, a decline of 3% from the previous session’s volume of 1,587,157 shares.The stock last traded at $3.01 and had previously closed at $3.10.

GROY has been the subject of several other research reports. Canaccord Genuity Group started coverage on shares of Gold Royalty in a report on Wednesday, June 11th. They issued a “buy” rating and a $3.00 target price for the company. HC Wainwright upped their target price on shares of Gold Royalty from $5.75 to $6.25 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Gold Royalty in a report on Wednesday, July 16th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GROY. Amundi boosted its holdings in shares of Gold Royalty by 300.0% during the 2nd quarter. Amundi now owns 2,000,000 shares of the company’s stock valued at $4,520,000 after purchasing an additional 1,500,000 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Gold Royalty by 1,918.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,042,141 shares of the company’s stock valued at $2,303,000 after acquiring an additional 990,515 shares during the last quarter. Groupe la Francaise lifted its holdings in shares of Gold Royalty by 594.7% in the 2nd quarter. Groupe la Francaise now owns 600,000 shares of the company’s stock valued at $1,320,000 after acquiring an additional 513,636 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Gold Royalty by 496.9% in the 2nd quarter. XTX Topco Ltd now owns 377,394 shares of the company’s stock valued at $834,000 after acquiring an additional 314,170 shares during the last quarter. Finally, Zazove Associates LLC lifted its holdings in shares of Gold Royalty by 42.8% in the 1st quarter. Zazove Associates LLC now owns 629,758 shares of the company’s stock valued at $907,000 after acquiring an additional 188,758 shares during the last quarter. Institutional investors own 33.75% of the company’s stock.

Gold Royalty Trading Up 2.0%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.63 and a current ratio of 1.63. The stock’s fifty day moving average is $2.45 and its 200 day moving average is $1.83. The stock has a market cap of $521.64 million, a P/E ratio of -23.54 and a beta of 0.96.

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.