Gold Royalty (NYSE:GROY) Trading Down 12.4% – Should You Sell?

Gold Royalty Corp. (NYSE:GROY)’s share price traded down 12.4% on Thursday . The company traded as low as $1.28 and last traded at $1.34. 6,778,126 shares were traded during mid-day trading, an increase of 578% from the average session volume of 1,000,317 shares. The stock had previously closed at $1.53.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Scotiabank cut their price objective on shares of Gold Royalty from $2.50 to $2.25 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. HC Wainwright boosted their price objective on shares of Gold Royalty from $5.50 to $5.75 and gave the company a “buy” rating in a report on Wednesday, February 5th.

Gold Royalty Price Performance

The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average price of $1.37 and a 200 day moving average price of $1.33. The company has a market capitalization of $231.63 million, a P/E ratio of -10.54 and a beta of 0.87.

Institutional Investors Weigh In On Gold Royalty

Several institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its stake in Gold Royalty by 27.4% in the third quarter. Bank of Montreal Can now owns 3,112,732 shares of the company’s stock valued at $4,296,000 after acquiring an additional 668,784 shares during the last quarter. Sprott Inc. lifted its stake in Gold Royalty by 227.5% in the 4th quarter. Sprott Inc. now owns 363,841 shares of the company’s stock valued at $440,000 after purchasing an additional 252,735 shares during the last quarter. Zazove Associates LLC lifted its stake in Gold Royalty by 83.0% in the 4th quarter. Zazove Associates LLC now owns 441,000 shares of the company’s stock valued at $534,000 after purchasing an additional 200,000 shares during the last quarter. Eagle Global Advisors LLC bought a new position in Gold Royalty in the 4th quarter valued at approximately $206,000. Finally, Parvin Asset Management LLC bought a new position in Gold Royalty in the 4th quarter valued at approximately $162,000. 33.75% of the stock is currently owned by institutional investors.

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.