Gold Royalty Corp. (NYSEAMERICAN:GROY) Short Interest Up 8.3% in March

Gold Royalty Corp. (NYSEAMERICAN:GROY) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 2,080,000 shares, an increase of 8.3% from the February 29th total of 1,920,000 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average daily volume of 584,300 shares, the days-to-cover ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets dropped their price target on Gold Royalty from $3.50 to $3.00 and set a “market perform” rating for the company in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Austin Wealth Management LLC acquired a new position in shares of Gold Royalty in the fourth quarter worth approximately $44,000. GSA Capital Partners LLP purchased a new stake in Gold Royalty in the 4th quarter valued at $221,000. Verition Fund Management LLC purchased a new stake in Gold Royalty in the 4th quarter valued at $50,000. Peregrine Asset Advisers Inc. purchased a new stake in shares of Gold Royalty during the 4th quarter valued at $59,000. Finally, Van ECK Associates Corp increased its position in shares of Gold Royalty by 9.8% during the 4th quarter. Van ECK Associates Corp now owns 5,898,131 shares of the company’s stock valued at $8,670,000 after purchasing an additional 525,594 shares during the last quarter. Institutional investors own 33.75% of the company’s stock.

Gold Royalty Trading Up 8.3 %

Gold Royalty stock opened at $2.09 on Thursday. Gold Royalty has a 12-month low of $1.18 and a 12-month high of $2.48. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $304.55 million, a price-to-earnings ratio of -11.61 and a beta of 1.19.

Gold Royalty (NYSEAMERICAN:GROY) last released its earnings results on Wednesday, March 27th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Gold Royalty had a negative return on equity of 0.75% and a negative net margin of 877.82%. The firm had revenue of $1.02 million for the quarter.

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 attractive returns for its investors.