Gold Royalty (NYSEAMERICAN:GROY) Issues Earnings Results, Beats Expectations By $0.03 EPS

Gold Royalty (NYSEAMERICAN:GROY) released its quarterly earnings data on Wednesday. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03, reports. The firm had revenue of $1.02 million for the quarter. Gold Royalty had a negative net margin of 877.82% and a negative return on equity of 0.75%.

Gold Royalty Trading Down 5.5 %

NYSEAMERICAN GROY traded down $0.11 on Friday, hitting $1.88. 1,184,261 shares of the stock traded hands, compared to its average volume of 695,830. Gold Royalty has a twelve month low of $1.18 and a twelve month high of $2.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.79 and a current ratio of 1.79.

Hedge Funds Weigh In On Gold Royalty

Several institutional investors have recently made changes to their positions in GROY. Bank of America Corp DE grew its holdings in shares of Gold Royalty by 224.2% during the first quarter. Bank of America Corp DE now owns 91,327 shares of the company’s stock valued at $376,000 after purchasing an additional 63,161 shares during the last quarter. Millennium Management LLC acquired a new stake in Gold Royalty in the second quarter worth approximately $39,000. Cubist Systematic Strategies LLC acquired a new stake in Gold Royalty in the second quarter worth approximately $182,000. Renaissance Technologies LLC acquired a new stake in Gold Royalty in the third quarter worth approximately $342,000. Finally, Commonwealth Equity Services LLC lifted its position in Gold Royalty by 43.3% in the third quarter. Commonwealth Equity Services LLC now owns 36,485 shares of the company’s stock worth $92,000 after purchasing an additional 11,025 shares during the period. 33.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GROY has been the topic of several recent research reports. BMO Capital Markets reduced their price target on shares of Gold Royalty from $3.50 to $3.00 and set a “market perform” rating on the stock in a report on Thursday, December 7th. Raymond James reduced their price target 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3.28.

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.