David Deckelbaum, an analyst from TD Cowen, maintained the Buy rating on Lithium Royalty Corp. (LIRC – Research Report). The associated price target was lowered to C$7.00.
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David Deckelbaum has given his Buy rating due to a combination of factors that highlight the potential growth and revenue streams for Lithium Royalty Corp. Despite current challenges such as winding down operations at certain sites, the company holds promising prospects with its investments in key projects.
The Grota do Cirilo project, which is advancing towards its Phase 2 completion, is expected to significantly boost revenue with projected royalty income in the coming years. Additionally, the Mariana and Tres Quebradas projects are poised to contribute substantial income once they commence production, with anticipated revenue from these projects starting in the latter half of 2025. The company’s strategic decisions, such as the sale of a portion of its Tres Quebradas royalty, have also strengthened its financial position, providing flexibility for future investments or share buybacks.
Deckelbaum covers the Energy sector, focusing on stocks such as APA, EQT, and Devon Energy. According to TipRanks, Deckelbaum has an average return of -5.0% and a 33.51% success rate on recommended stocks.