Gold Royalty's Long-Term Upside Story: Analyst Downgrade and Investor Expectations

Analyst Carey MacRury downgraded Gold Royalty Corp. (GROY.US) to a hold rating, which may impact the company's investment narrative and investor expectations. The downgrade comes from an analyst with a 67.8% success rate and large average returns over the past year, and may cool enthusiasm after a large 1-year total return. The key short-term catalysts remain execution against 2025 guidance and Q4 2025 results, but ongoing losses and potential further dilution are still risks investors should consider.