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H.C. Wainwright reiterated its Buy rating and $5.75 price target on Gold Royalty Corp. (NYSE:GROY) on Friday, representing significant upside from the current stock price of $2.28. The stock has shown remarkable momentum, gaining 88% year-to-date and currently trading near its 52-week high. The research firm maintained its positive outlook following a company presentation. According to InvestingPro, there are 8 more key insights available about GROY’s performance and outlook.
The decision came after Gold Royalty CEO David Garofalo provided a strategic overview of the company, followed by updates from other management team members and representatives from firms in Gold Royalty’s portfolio.
H.C. Wainwright analyst Heiko Ihle noted that the majority of Gold Royalty’s assets are located in geopolitically safe jurisdictions and are either cash flowing or in development phases.
Management emphasized during the presentation that 61% of the company’s assets by book value are located in Canada, while 27% are in the USA, highlighting the firm’s concentration in stable regions.
The company also stressed that 53% of its assets by book value are currently cash flowing, with an additional 28% in the development phase, demonstrating the portfolio’s maturity profile.
In other recent news, Gold Royalty Corp reported its fourth-quarter 2024 financial results, which fell short of expectations, revealing a larger-than-anticipated loss and lower-than-forecasted revenue. The company posted an earnings per share loss of $0.02, missing the predicted loss of $0.0063, while revenue came in at $3.36 million, below the expected $4.99 million. Despite these setbacks, Gold Royalty achieved a record year in terms of revenue growth and operating cash flows, with total revenue increasing by 146% year-over-year to $12.8 million. The company also reported its first full year of positive operating cash flows, amounting to $2.5 million.
Raymond (NSE:RYMD) James recently reaffirmed its Outperform rating on Gold Royalty with a price target of $2.75, citing confidence in the company’s business model and its ability to leverage its royalty portfolio in the precious metals sector. The firm highlighted Gold Royalty’s strong financial position, emphasizing its flexible balance sheet as a key strength. Analysts at Raymond James noted the advantages of investing in royalty companies like Gold Royalty, which offer exposure to precious metal prices while providing a buffer against operating and capital cost risks.
Looking ahead, Gold Royalty anticipates continued growth driven by key projects such as the Cote Gold mine and the Borborema project, with expectations of achieving steady-state production at Cote Gold by Q4 2025. The company projects a significant increase in gold equivalent ounces by 2029, reflecting optimism about its long-term growth potential. CEO David Garofalo emphasized the company’s record achievements in 2024 and expressed confidence in the growth outlook for the coming years.
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