EMX Royalty (EMX) AI Stock Analysis

• Market Cap: $433.05M
• Dividend Yield: N/A
• Average Volume (3M): 62.70K
• Price to Earnings (P/E): 891.1
• Beta (1Y): 0.87
• Revenue Growth: 11.11%
• EPS Growth: N/A
• Country: CA
• Employees: 49
• Sector: Basic Materials
• Sector Strength: 68
• Industry: Industrial Materials
• EPS (TTM): 0.01
• Shares Outstanding: 107,992,320
• 10 Day Avg. Volume: 58,719
• 30 Day Avg. Volume: 62,703
• PEG Ratio: -10.43
• Price to Book (P/B): 2.76
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 58.88
• Enterprise Value/Market Cap: 0.72
• Enterprise Value/Revenue: 3.22
• Enterprise Value/Gross Profit: 24.68
• Enterprise Value/Ebitda: 8.40
• 1Y Price Target: $6.05
• Price Target Upside: 49.04% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 64 Neutral
• Price Target: C$4.50 ▲(10.84%Upside)

EMX Royalty's overall score reflects a balance of high technical momentum and strategic corporate actions against a backdrop of financial instability and overvaluation. The positive corporate events enhance strategic positioning, but financial and valuation concerns weigh heavily on the score.

Positive Factors

Capital Return

Management repurchased about 1.5M common shares during the quarter and an additional 1.2M after quarter-end, showing a commitment to returning capital to shareholders.

Exploration and Growth

The discovery of Malka Golaja represents a significant value driver for the firm and offers the potential for continued resource growth at Timok.

Revenue Growth

The company posted $8.4M in total revenue, reflecting ongoing growth year over year.

Negative Factors

Debt and Financial Costs

EMX received an early final property payment of $6.9M, which was applied toward a $10.0M principal payment on its outstanding debt.

Discount Rate Increase

The decreased price target results from updates to reflect increases in discount rates applied across EMX's asset base.

Sales Guidance

Management expects sales for the year to fall into a range of 10,000 — 12,000 Gold Equivalent Ounces (GEOs), indicating a small decrease compared to previous guidance.

EMX Royalty Business Overview & Revenue Model

Company Description

EMX Royalty Corporation, together with its subsidiaries, engages in the exploring for, and generating royalties from, metals and minerals properties. It explores for gold, silver, platinum, palladium, copper, lead, zinc, nickel, cobalt, volcanogenic massive sulfide, molybdenum, and iron deposits. The company's royalty and exploration portfolio primarily consist of properties in North America, Turkey, Europe, Australia, New Zealand, South America, as well as Sweden, and Norway. The company was formerly known as Eurasian Minerals Inc. and changed its name to EMX Royalty Corporation in July 2017. EMX Royalty Corporation is headquartered in Vancouver, Canada.

How the Company Makes Money

EMX Royalty Corporation makes money through a revenue model centered on acquiring and managing royalty interests in mineral properties. The key revenue streams include royalty payments from active mines, payments from advanced exploration projects, and strategic investments in mining companies. EMX often enters into partnerships or agreements with other mining companies where it retains a royalty interest in the properties after selling or leasing them. These royalties are typically structured as a percentage of the revenue generated from the mineral production, providing EMX with a continuous income stream as long as the mine is operational. Additionally, EMX may receive milestone payments or advance royalties as part of its agreements, contributing to its earnings. The company's strategy includes leveraging its geological expertise to identify prospective opportunities, thereby enhancing its portfolio's long-term value.

EMX Royalty Financial Statement Overview

Summary

EMX Royalty demonstrates moderate financial stability with strengths in asset management and leverage, as evidenced by a solid balance sheet. However, ongoing challenges with revenue volatility, negative net income, and declining cash flows hinder overall financial health.

Income Statement

EMX Royalty's revenue has shown volatility, with a decline observed in the latest year. The gross profit margin improved to 72.07%, up from 45.58% a year prior, indicating better cost management. However, net profit remained negative, reflecting ongoing profitability challenges. The EBIT margin at 4.05% is low but positive, suggesting marginal operational efficiency improvements.

Balance Sheet

The company's balance sheet shows moderate stability with a debt-to-equity ratio of 0.30, highlighting manageable leverage. Stockholders' equity forms a significant portion of total assets, with an equity ratio of 73.59%. These factors demonstrate a solid capital structure, though profitability remains a concern with negative return on equity.

Cash Flow

Operating cash flow decreased significantly, and free cash flow saw a sharp decline of 77.30%. The operating cash flow to net income ratio is negative, indicating cash flow issues. However, free cash flow remains positive, suggesting some capacity to fund operations without additional financing.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	23.80M	27.38M	16.50M	2.94M	1.16M
Gross Profit	17.16M	12.48M	1.77M	-7.06M	-6.41M
EBITDA	10.78M	6.92M	19.33M	-21.74M	-8.44M
Net Income	-3.29M	-6.14M	4.36M	-23.73M	-4.71M
Balance Sheet
Total Assets	156.90M	158.57M	168.83M	164.56M	80.73M
Cash, Cash Equivalents and Short-Term Investments	32.12M	26.73M	25.92M	31.85M	54.25M
Total Debt	34.55M	32.75M	40.49M	50.52M	0.00
Total Liabilities	41.42M	38.13M	45.63M	55.53M	4.06M
Stockholders Equity	115.48M	120.44M	123.20M	109.03M	76.66M
Cash Flow
Free Cash Flow	3.32M	14.61M	15.55M	―	―
Operating Cash Flow	6.82M	14.78M	16.73M	―	―
Investing Cash Flow	6.35M	8.83M	-19.98M	―	―
Financing Cash Flow	-6.86M	-12.12M	-526.00K	58.65M	1.69M

EMX Royalty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.06
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EMX, the sentiment is Positive. The current price of 4.06 is above the 20-day moving average (MA) of 3.72, above the 50-day MA of 3.40, and above the 200-day MA of 2.81, indicating a bullish trend. The MACD of 0.18 indicates Negative momentum. The RSI at 68.38 is Neutral, neither overbought nor oversold. The STOCH value of 79.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:EMX.

EMX Royalty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EMX	64 Neutral	$433.05M	891.11	0.17%	―	11.11%	―
LUCA	63 Neutral	C$405.66M	37.31	-18.51%	―	100.84%	17.40%
Sector *	44 Neutral	C$963.03M	-6.69	-13.68%	1.90%	17.55%	-32.71%
WRN	―	$246.20M	―	-3.62%	―	―	―
ERD	47 Neutral	C$340.15M	―	-16.90%	―	―	-1666.67%
EMO	42 Neutral	C$359.20M	―	-47.70%	―	―	51.26%
PMET	38 Underperform	C$548.47M	5,680.00	-2.43%	―	―	-2226.67%

EMX Royalty Corporate Events

EMX Royalty Forms Strategic Alliance with Avesoro, Sells Moroccan Portfolio

EMX Royalty Corporation has announced the sale of its Moroccan portfolio and the formation of an exploration alliance with Avesoro Morocco LTD. This strategic move allows EMX to maintain royalty exposure while reducing operational expenses. Avesoro will fully fund the exploration activities, including the advancement of existing projects and the acquisition of new ones, with EMX retaining a 2% net smelter return royalty on designated projects. This alliance is expected to enhance EMX’s positioning in the mineral exploration sector, leveraging Avesoro’s expertise in West Africa.

The most recent analyst rating on (TSE:EMX) stock is a Buy with a C$4.25 price target. To see the full list of analyst forecasts on EMX Royalty stock, see the TSE:EMX Stock Forecast page.

EMX Royalty Expands Portfolio with Trench Gold Project Agreement

EMX Royalty Corporation has entered into an exploration and option agreement with Ridgeline Minerals for the Trench Gold Project in Nevada. This agreement allows EMX to receive cash and share payments over a five-year term, along with a 3% net smelter returns royalty and annual advanced royalty payments. The project, identified through EMX’s geochemical sampling, represents a strategic addition to EMX’s royalty portfolio, offering potential near-term cash flow and future exploration upside. The agreement also marks the fourth collaboration between EMX and Ridgeline, highlighting their ongoing efforts to develop prospective projects in Nevada.

The most recent analyst rating on (TSE:EMX) stock is a Buy with a C$4.25 price target. To see the full list of analyst forecasts on EMX Royalty stock, see the TSE:EMX Stock Forecast page.