EMX Royalty Corporation (EMX) PT Raised to $6.75 at H.C. Wainwright

H.C. Wainwright analyst Heiko Ihle raised the price target on EMX Royalty Corporation (NYSE: EMX) to $6.75 (from $6.50) while maintaining a Buy rating.

The analyst commented: "On May 13, 2024, EMX Royalty announced its 1Q24 financial results. During the quarter, the company recorded $6.2M in revenue but ultimately reported a (largely irrelevant) net loss of $2.2M, or ($0.02) per share. This compares to 1Q23 revenue of $2.7M and a net loss of $3.7M, or ($0.03) per share. We highlight that the higher YoY revenue was driven by $1.3M in royalties from Timok based on a quarterly production record from the upper zone. We reiterate our Buy rating on EMX as we increase our PT to $6.75 from $6.50."

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