Gold Royalty's Q3 revenue jumps on improved gold prices

Overview

• Gold Royalty's Q3 total revenue, land agreement proceeds and interest rise 76% yr/yr to $4.6 mln

• Company expects to be nearly debt-free by end of 2026

Outlook

• Gold Royalty expects 2025 GEOs around or modestly below 5,700-7,000 ounces range

• Company anticipates record-level cash flows in 2025 due to higher gold prices

• Vareš mine focus on development to boost production by H2 2026

Result Drivers

• MINE RAMP-UP - Revenue growth driven by ramp-up of new large-scale mines at Côté, Vareš, and Borborema

• STRONG ROYALTY PERFORMANCE - Strong cash flows from royalty interests in Borden, Borborema, Côté, and Cozamin

• GOLD PRICE IMPACT - Improved gold prices boosted cash flows

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment management & fund operators peer group is "buy"

• Wall Street's median 12-month price target for Gold Royalty Corp is $4.00, about 11.3% above its October 21 closing price of $3.55

Press Release: ID:nPn2pkvt3a

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