Gold Royalty Corp (AMEX: GROY): Stock Forecast For 2024 Sees A A Decline Of -13.76%

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In the last trading session, 1.18 million shares of the Gold Royalty Corp (AMEX:GROY) were traded, and its beta was 1.20. Most recently the company’s share price was $1.88, and it changed around -$0.11 or -5.53% from the last close, which brings the market valuation of the company to $273.95M. GROY currently trades at a discount to its 52-week high of $2.48, offering almost -31.91% off that amount. The share price’s 52-week low was $1.18, which indicates that the current value has risen by an impressive 37.23% since then. We note from Gold Royalty Corp’s average daily trading volume that its 10-day average is 0.61 million shares, with the 3-month average coming to 592.32K.

Gold Royalty Corp stock received a consensus recommendation rating of Buy, based on a mean score of 1.57. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended GROY as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Gold Royalty Corp is expected to report earnings per share of -$0.01 for the current quarter.

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Gold Royalty Corp (AMEX:GROY) trade information

Instantly GROY has showed a red trend with a performance of -5.53% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 27.89% year-to-date, but still down -3.59% over the last five days. On the other hand, Gold Royalty Corp (AMEX:GROY) is 12.57% up in the 30-day period. We can see from the shorts that 2.08 million shares have been sold at a short interest cover period of 2.65 day(s).

The consensus price target as assigned by Wall Street analysts is $8, which translates to bulls needing to increase their stock price by 76.5% from its current value. Analyst projections state that GROY is forecast to be at a low of $8 and a high of $8.

Gold Royalty Corp (GROY) estimates and forecasts

Gold Royalty Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 44.62 percent over the past six months and at a 100.00% annual growth rate that is well above the industry average of 3.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 50.00% in revenue this quarter, and will report an increase of 50.00% in the next quarter. The year-over-year growth rate is expected to be 263.50%, up from the previous year.

GROY Dividends

Gold Royalty Corp’s next quarterly earnings report is expected to be released in May. The annual dividend yield of the stock is 1.06 percent and its annual dividend per share was 0.02. It is important to note, however, that the 1.06% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Gold Royalty Corp (AMEX:GROY)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 29.64% of Gold Royalty Corp shares, and 8.84% of them are in the hands of institutional investors. The stock currently has a share float of 12.56%. Gold Royalty Corp stock is held by 49 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Jun 29, 2023, it held 3.76% of the shares, which is about 5.43 million shares worth $9.6 million.

Bank of Montreal/Can/, with 1.77% or 2.55 million shares worth $4.51 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Junior Gold Miners ETF and SPDR (R) Idx Shares-SPDR (R) S&P (R) International Small Cap ETF were the top two Mutual Funds as of Sep 29, 2023. The former held 4.94 million shares worth $6.32 million, making up 3.42% of all outstanding shares. On the other hand, SPDR (R) Idx Shares-SPDR (R) S&P (R) International Small Cap ETF held roughly 51444.0 shares worth around $75108.0, which represents about 0.04% of the total shares outstanding.