Gold Royalty's Q1 revenue more than doubles to record high on solid portfolio growth

Overview

• The U.S. gold royalty firm's Q1 revenue more than doubled yr/yr to a record high

• Adjusted net income for Q1 turned positive yr/yr

• Company ended Q1 with over $13.6 mln cash and no debt

Outlook

• Company maintains 2026 forecast of 5,700 to 7,000 GEOs

• Gold Royalty expects 2026 production to be weighted towards the second half of the year

• Company says 2026 GEOs guidance is based on $5.75/lb copper

Result Drivers

• PORTFOLIO EXPANSION - Co said record Q1 revenue and cash flow reflect the benefits of portfolio growth and company-building efforts over the past five years

• HIGHER ROYALTY AND STREAMING REVENUE - Royalty and streaming revenue increased significantly yr/yr, contributing to record results

• INCREASED GOLD EQUIVALENT OUNCES - Higher GEOs generated from royalty and streaming interests supported revenue growth

Company press release: ID:nPn1g7268a

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 $6.00, about 70.5% above its May 6 closing price of $3.52

• The stock recently traded at 44 times the next 12-month earnings vs. a P/E of 61 three months ago

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