Gold Royalty Corp Q3 revenue jumps on new mines entering production

Overview

• Gold Royalty Q3 revenue reaches record $4.1 mln, up from $2.06 mln last year

• Company reports Q3 net loss of $1.13 mln despite record revenue

• Gold Royalty repaid $2 mln to revolving credit facility in Q3

Outlook

• Gold Royalty plans to use cash flow to reduce debt through 2026

• Canadian Malartic/Odyssey mine production expected in H2 2026

• Vareš mine aims for 850,000 tonnes/year rate by end of 2026

Result Drivers

• NEW MINES - Record revenue driven by new mines entering production, per CEO David Garofalo

• CASH FLOW IMPROVEMENT - Positive cash flow and warrant exercises helped reduce debt and interest costs

• DEBT REDUCTION STRATEGY - Co plans to use cash from operations to de-lever through 2026

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 $4.75, about 28.6% above its November 5 closing price of $3.39

• The stock recently traded at 269 times the next 12-month earnings vs. a P/E of 750 three months ago

Press Release: ID:nPnbY5nkPa

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