Gold Royalty Corp. (NYSEAMERICAN:GROY) Sees Large Drop in Short Interest

Gold Royalty Corp. (NYSEAMERICAN:GROY) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 2,820,000 shares, a decrease of 14.8% from the June 30th total of 3,310,000 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GROY. Raymond James upgraded Gold Royalty from a “market perform” rating to an “outperform” rating and set a $2.75 target price for the company in a research note on Monday, June 3rd. HC Wainwright restated a “buy” rating and issued a $5.75 price objective on shares of Gold Royalty in a research note on Wednesday, May 15th. Finally, BMO Capital Markets upgraded shares of Gold Royalty from a “market perform” rating to an “outperform” rating and set a $2.50 target price on the stock in a research report on Monday, June 3rd.

Hedge Funds Weigh In On Gold Royalty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Gold Royalty by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 5,898,131 shares of the company’s stock worth $8,670,000 after purchasing an additional 525,594 shares during the last quarter. Peregrine Asset Advisers Inc. acquired a new position in Gold Royalty during the 4th quarter worth about $59,000. Austin Wealth Management LLC bought a new stake in Gold Royalty during the 4th quarter worth about $44,000. Finally, GSA Capital Partners LLP increased its position in Gold Royalty by 70.9% in the 1st quarter. GSA Capital Partners LLP now owns 257,222 shares of the company’s stock valued at $484,000 after acquiring an additional 106,700 shares in the last quarter. 33.75% of the stock is currently owned by institutional investors and hedge funds.

Gold Royalty Price Performance

GROY stock remained flat at $1.37 during trading on Monday. The company had a trading volume of 846,028 shares, compared to its average volume of 877,242. Gold Royalty has a twelve month low of $1.18 and a twelve month high of $2.21. The firm has a market cap of $199.64 million, a price-to-earnings ratio of -8.06 and a beta of 1.02. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06.

Gold Royalty (NYSEAMERICAN:GROY) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Gold Royalty had a negative return on equity of 0.68% and a negative net margin of 484.60%. The company had revenue of $2.89 million during the quarter. On average, research analysts anticipate that Gold Royalty will post -0.03 earnings per share for the current year.

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 returns for its investors.