Gold Royalty Corp (GROY) Stock: Price Target Revised on Q1 Results

Gold Royalty Corp (NYSEAMERICAN:GROY) is one of the explosive mining penny stocks to watch in 2026. Gold Royalty (GROY) stock has gained more than 140% over the past year, and analysts see it rising by more than 60% more over the next 12 months.

On May 7, H.C. Wainwright raised its price target on Gold Royalty Corp (NYSEAMERICAN:GROY) to $7.75 from $6.75 while keeping a Buy rating on the stock. The firm revised its target for the stock after Gold Royalty reported record revenue for Q1 2026 and reiterated its full-year 2026 outlook. According to H.C. Wainwright analyst Heiko Ihle, Gold Royalty’s production profile provides a solid basis for a premium valuation in light of the current commodity price environment.

In Q1, Gold Royalty’s revenue surged to a record $7.2 million from $3.1 million in the same period a year ago. The company posted a net income of $1.8 million, translating to EPS of $0.01 per share. That compares to a net loss of $1.2 million, or a loss per share of $0.01 a year ago.

In terms of production, Gold Royalty reported 1,920 gold equivalent ounces (GEOs) for Q1, compared to 1,249 GEOs a year ago. For 2026, the company anticipates between 7,500 and 9,300 GEOs.

Gold Royalty finished Q1 in a solid cash position, reporting more than $13.6 million in cash and no debt. Moreover, the company has $150 million available under a credit facility.

Canada-based Gold Royalty Corp (NYSEAMERICAN:GROY) offers financing solutions to the mining industry. It provides capital for gold, silver, copper, and other metals mining projects in exchange for royalties and streaming interests. Therefore, the company gives investors exposure to the mining industry without directly operating mines.

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