Analysts Issue Forecasts for Gold Royalty FY2024 Earnings

Gold Royalty Corp. (NYSE:GROY) – Raymond James upped their FY2024 earnings estimates for Gold Royalty in a note issued to investors on Tuesday, November 5th. Raymond James analyst B. Macarthur now forecasts that the company will earn ($0.01) per share for the year, up from their prior estimate of ($0.03). The consensus estimate for Gold Royalty’s current full-year earnings is ($0.02) per share.

Separately, HC Wainwright decreased their target price on Gold Royalty from $5.75 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

Gold Royalty Stock Performance

Shares of NYSE GROY opened at $1.42 on Friday. The company has a 50 day moving average price of $1.37. The stock has a market capitalization of $240.08 million, a price-to-earnings ratio of -10.92 and a beta of 0.94. Gold Royalty has a 52-week low of $1.17 and a 52-week high of $2.21. The company has a quick ratio of 1.69, a current ratio of 1.63 and a debt-to-equity ratio of 0.09.

Gold Royalty (NYSE:GROY) last released its quarterly earnings data on Monday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $2.06 million during the quarter. Gold Royalty had a negative net margin of 252.16% and a positive return on equity of 0.46%.

Hedge Funds Weigh In On Gold Royalty

Several institutional investors have recently bought and sold shares of the business. Oxbow Advisors LLC bought a new stake in Gold Royalty during the 3rd quarter valued at $49,000. Bayshore Asset Management LLC purchased a new stake in shares of Gold Royalty during the 3rd quarter worth $61,000. Regal Partners Ltd boosted its position in Gold Royalty by 101.9% during the second quarter. Regal Partners Ltd now owns 83,017 shares of the company’s stock valued at $120,000 after purchasing an additional 41,899 shares in the last quarter. AlphaQ Advisors LLC grew its stake in Gold Royalty by 62.2% in the second quarter. AlphaQ Advisors LLC now owns 84,260 shares of the company’s stock valued at $119,000 after purchasing an additional 32,315 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. bought a new position in Gold Royalty in the third quarter worth about $132,000. 33.75% of the stock is owned by hedge funds and other institutional investors.

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.