Van Eck Associates Corp. recently announced the acquisition of new stake in Gold Royalty Corp. (AMEX:GROY). The institutional investor has increased its shareholding in the Basic Materials company by 4.31% to 5.9 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 4.10% valued currently at $12.44 million. In addition, BMO Asset Management Corp. raised its holdings by 33158.0 to 2.15 million shares. And Commodity Capital AG has lifted its position by 80.00% or 0.8 million shares – to 1.8 million shares.
With over 2.06 million Gold Royalty Corp. (GROY) shares trading Tuesday and a closing price of $2.04 on the day, the dollar volume was approximately $4.19 million. The shares have shown a negative half year performance of -20.93% and its price on 05/23/23 lost nearly -1.92%. Currently, there are 144.48M common shares owned by the public and among those 94.32M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for GROY have a consensus price objective of $5.45. The analysts have set the share’s price value over the next 12 months at a high of $8.75 and a low of $4.00. The average price target is 62.57% above its recent price level and an upside to the estimated low will see the stock gain 49.0% over that period. But an upside of 76.69% will see the stock hit the forecast high price target while median target price for the stock is $4.50.
The top 3 mutual fund holders in Gold Royalty Corp. are VanEck Junior Gold Miners ETF, Caisse de dépôt et placement du Q, and Commodity Capital – Global Mining. VanEck Junior Gold Miners ETF owns 5.42 million shares of the company’s stock, all valued at over $11.44 million. Caisse de dépôt et placement du Q bought 9308.0 shares to see its total holdings expand to 2.86 million shares valued at over $6.04 million and representing 1.99% of the shares outstanding. Commodity Capital – Global Mining now owns shares totaling to 0.70% of the shares outstanding.
However, the script later moved the day high at 2.0800, down -1.92%. The company’s stock has a 5-day price change of -2.39% and -4.23% over the past three months. GROY shares are trading -12.45% year to date (YTD), with the 12-month market performance down to -35.24% lower. It has a 12-month low price of $1.99 and touched a high of $3.33 over the same period. GROY has an average intraday trading volume of 519.26K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.84%, -6.91%, and -16.26% respectively.
Institutional ownership of Gold Royalty Corp. (AMEX: GROY) shares accounts for 10.50% of the company’s 144.48M shares outstanding. Mutual fund holders own 2.19%, while other institutional holders and individual stakeholders account for 8.07% and — respectively.
It has a market capitalization of $296.19M. The earnings-per-share (ttm) stands at -$0.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.66% over the week and 3.66% over the month.
Analysts forecast that Gold Royalty Corp. (GROY) will achieve an EPS of -$0.01 for the current quarter, -$0.01 for the next quarter and -$0.02 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was -$0.02 a year ago. Earnings per share for the fiscal year are expected to increase by 88.70%, and 60.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Gold Royalty Corp. (GROY) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
