BMO Capital Resumes Gold Royalty Corp. (GROY) at Outperform

BMO Capital analyst Rene Cartier resumes coverage on Gold Royalty Corp. (NYSE: GROY) with a Outperform rating and a price target of $2.50.

The analyst comments "Following a period of research restriction owing to Gold Royalty's bought deal financing, we resume coverage, and upgrade shares to Outperform (Speculative) from Market Perform (S). Proceeds from the financing were used to support the acquisition of a copper stream on the Vares Silver project. Albeit equity dilution on account of the offering, we view the IRR on the transaction as reasonable, and with the near-term cash flow to support company deleveraging efforts, and help to bridge the gap to other portfolio assets either coming online, or more materially contributing."

For an analyst ratings summary and ratings history on Gold Royalty Corp. click here. For more ratings news on Gold Royalty Corp. click here.

Shares of Gold Royalty Corp. closed at $1.63 yesterday.

You May Also Be Interested In

• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• KinderCare Learning Companies (KLC) PT Lowered to $4.50 at UBS
• SoundThinking (SSTI) PT Lowered to $8 at Cantor Fitzgerald