Gold Royalty Corp. (NYSEAMERICAN:GROY – Get Free Report) saw a significant increase in short interest in the month of February. As of February 29th, there was short interest totalling 1,920,000 shares, an increase of 17.8% from the February 14th total of 1,630,000 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average daily volume of 577,700 shares, the short-interest ratio is presently 3.3 days.
Analysts Set New Price Targets
GROY has been the topic of several analyst reports. Raymond James cut their target price on shares of Gold Royalty from $3.50 to $3.00 and set a “market perform” rating on the stock in a report on Friday, December 1st. BMO Capital Markets lowered their price objective on shares of Gold Royalty from $3.50 to $3.00 and set a “market perform” rating for the company in a research report on Thursday, December 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3.28.
Get Our Latest Research Report on GROY
Gold Royalty Stock Performance
Shares of GROY traded up $0.03 during midday trading on Friday, reaching $2.00. The stock had a trading volume of 511,336 shares, compared to its average volume of 607,637. Gold Royalty has a one year low of $1.18 and a one year high of $2.48. The company has a market cap of $291.44 million, a PE ratio of -28.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.79 and a quick ratio of 1.79.
Institutional Trading of Gold Royalty
A number of hedge funds have recently modified their holdings of the stock. Austin Wealth Management LLC acquired a new stake in shares of Gold Royalty during the 4th quarter worth about $44,000. GSA Capital Partners LLP acquired a new stake in shares of Gold Royalty during the 4th quarter worth about $221,000. Verition Fund Management LLC acquired a new stake in shares of Gold Royalty during the 4th quarter worth about $50,000. Peregrine Asset Advisers Inc. acquired a new stake in shares of Gold Royalty during the 4th quarter worth about $59,000. Finally, Van ECK Associates Corp lifted its stake 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 worth $8,670,000 after buying an additional 525,594 shares during the last quarter. Institutional investors and hedge funds own 8.00% 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.
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Read More:Gold Royalty Corp. (NYSEAMERICAN:GROY) Short Interest Update
2024-03-16 22:07:30
