BMO Capital analyst Rene Cartier maintained a Buy rating on Gold Royalty yesterday and set a price target of $4.50.
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Rene Cartier has given his Buy rating due to a combination of factors that reflect Gold Royalty’s strategic positioning and financial performance. The company has reported preliminary Q3/25 results that align with expectations, showing a total revenue of $4.6 million and positive free cash flow, which has allowed them to reduce debt. This financial stability is a positive indicator for future growth prospects.
Additionally, Gold Royalty is actively executing new transactions and diversifying its portfolio, which could enhance shareholder value. Despite the challenge of having a majority non-producing portfolio, the management’s strategy could lead to improved valuation multiples as they continue to execute their plans. The company’s focus on underground development at the Vareš mine is expected to bolster production in the coming years, further supporting the Buy rating.
In another report released yesterday, Scotiabank also maintained a Buy rating on the stock with a $4.00 price target.