Van ECK Associates Corp Increases Holdings in Gold Royalty Corp. (NYSEAMERICAN:GROY)

Van ECK Associates Corp boosted its position in shares of Gold Royalty Corp. (NYSEAMERICAN:GROY) by 0.9% in the first quarter, Holdings Channel reports. The fund owned 5,953,677 shares of the company’s stock after purchasing an additional 55,546 shares during the quarter. Van ECK Associates Corp’s holdings in Gold Royalty were worth $11,193,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of GROY. Austin Wealth Management LLC bought a new position in shares of Gold Royalty in the fourth quarter worth about $44,000. Peregrine Asset Advisers Inc. bought a new position in shares of Gold Royalty during the 4th quarter valued at about $59,000. Finally, Gunderson Capital Management Inc. lifted its position in shares of Gold Royalty by 85.7% in the fourth quarter. Gunderson Capital Management Inc. now owns 33,589 shares of the company’s stock worth $49,000 after buying an additional 15,500 shares in the last quarter. Institutional investors own 33.75% of the company’s stock.

Gold Royalty Stock Performance

NYSEAMERICAN:GROY traded up $0.08 during midday trading on Friday, hitting $1.52. 1,361,379 shares of the company traded hands, compared to its average volume of 862,889. The firm has a market capitalization of $221.49 million, a PE ratio of -8.94 and a beta of 1.02. Gold Royalty Corp. has a 12-month low of $1.18 and a 12-month high of $2.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.41 and a current ratio of 1.41.

Gold Royalty (NYSEAMERICAN:GROY) last announced its earnings results on Monday, May 13th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Gold Royalty had a negative net margin of 484.60% and a negative return on equity of 0.68%. The business had revenue of $2.89 million for the quarter. On average, sell-side analysts anticipate that Gold Royalty Corp. will post -0.03 earnings per share for the current year.

Analysts Set New Price Targets

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

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.