As previously reported, Canaccord initiated coverage of Gold Royalty (GROY) with a Buy rating and $3 price target The stock in midday trading is up 11%, or 22c, to $2.19. The company is “geared for growth,” the analyst told investors in a research note. The firm sees Gold Royalty’s gold production tripling over the next five years to 19,000 ounces in 2029, with “steady” growth each year. Canaccord adds the company is free cash flow positive as of 2024.
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Read More on GROY:
- Gold Royalty initiated with a Buy at Canaccord
- Gold Royalty Corp’s Earnings Call Highlights Growth and Challenges
- Gold Royalty’s Promising Financial Outlook and Strategic Growth Potential Earns Buy Rating
- Gold Royalty Corp. Reports Q1 2025 Revenue Growth
- Gold Royalty reports Q1 adjusted EPS (1c), consensus (1c)