FY2024 EPS Estimates for Gold Royalty Lifted by Scotiabank

Gold Royalty Corp. (NYSE:GROY) – Investment analysts at Scotiabank boosted their FY2024 EPS estimates for shares of Gold Royalty in a research note issued on Wednesday, January 8th. Scotiabank analyst E. Winmill now expects that the company will earn $0.00 per share for the year, up from their previous forecast of ($0.02). Scotiabank currently has a “Sector Outperform” rating and a $2.25 target price on the stock. The consensus estimate for Gold Royalty’s current full-year earnings is ($0.01) per share. Scotiabank also issued estimates for Gold Royalty’s FY2026 earnings at $0.02 EPS.

Separately, HC Wainwright reduced their price target on shares of 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 Trading Up 0.8 %

Shares of NYSE:GROY opened at $1.25 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $1.27 and its two-hundred day moving average is $1.34. The company has a market cap of $211.34 million, a PE ratio of -9.62 and a beta of 0.88. Gold Royalty has a 52 week low of $1.16 and a 52 week high of $2.21.

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

Institutional Investors Weigh In On Gold Royalty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in shares of Gold Royalty by 27.4% in the 3rd quarter. Bank of Montreal Can now owns 3,112,732 shares of the company’s stock valued at $4,296,000 after acquiring an additional 668,784 shares during the period. Renaissance Technologies LLC bought a new position in shares of Gold Royalty during the second quarter worth about $1,345,000. Ghisallo Capital Management LLC bought a new stake in shares of Gold Royalty in the 2nd quarter valued at approximately $705,000. XTX Topco Ltd acquired a new stake in shares of Gold Royalty during the 3rd quarter valued at approximately $83,000. Finally, Verition Fund Management LLC bought a new position in Gold Royalty during the third quarter worth $32,000. Hedge funds and other institutional investors own 33.75% of the company’s stock.

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.