Maxim analyst Tate Sullivan raised the firm’s price target on Gold Royalty (GROY) to $7 from $5 and keeps a Buy rating on the shares. The firm is adjusting its model to reflect higher gold prices and gold royalty acquisitions, which indicate that the company has a positive outlook for both production growth and gold prices, the analyst tells investors in a research note.
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Read More on GROY:
- Gold Royalty downgraded to Hold on valuation at Canaccord
- Gold Royalty downgraded to Hold from Buy at Canaccord
- Gold Royalty acquires smelter returns royalty from Dundee Corporation for $45M
- Gold Royalty reports preliminary Q4 revenue $4.5M, consensus $3.4M
- Gold Royalty price target raised to $7 from $6.25 at H.C. Wainwright