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On Friday, H.C. Wainwright adjusted its outlook on EMX Royalty Corporation (NYSE:EMX), reducing the price target to $5.00 from the previous $7.00, yet reaffirmed its Buy rating on the stock. According to InvestingPro data, EMX demonstrates strong revenue growth of 25.5% over the last twelve months, despite showing negative earnings. The firm’s analyst pointed to the company’s financial results for the year, noting a total revenue of $27.4 million, which led to a net loss of $3.3 million, or ($0.03) per share. This performance marks a slight improvement over 2023’s total revenue of $26.6 million and a net loss of $4.6 million, or ($0.04) per share.
The slight uptick in revenue for the year was mainly attributed to higher commodity prices, which boosted production from the Gediktepe and Leeville royalties. Trading at an EV/EBITDA multiple of 20.15x, EMX maintains relatively low price volatility with a beta of 0.65. However, the positive impact was somewhat mitigated by a decrease in income from option deals and other property-related transactions. InvestingPro subscribers can access additional insights about EMX’s valuation metrics and growth potential.
The analyst also highlighted EMX’s cash flow from operations, which showed significant growth, rising to $6.5 million from $4.3 million the previous year. This increase is viewed as a demonstration of the company’s operational improvement.
With a healthy cash and cash equivalents balance of $26.8 million, EMX Royalty Corporation is seen as being in a strong position to seek out and secure new royalty opportunities in the year 2025. The firm’s reiteration of a Buy rating reflects confidence in EMX’s potential despite the lowered price target.
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