CA - EMX Royalty: Higher Prices Likely Ahead

2024-04-04 16:32:51 ET

Summary

• EMX Royalty had a record year in 2023 and is set to see another robust year with a significant benefit from record gold prices.
• However, the bigger story is the positive developments on its two top royalty assets, which appear to going from multi-decade mine lives to "generational" assets.
• In this update we'll dig into the recent results and why EMX is one of the sector's best buy-the-dip candidates.

The Q1 earnings season for the precious metals sector has finally ended and one of the most recent companies to report its results was EMX Royalty ( EMX ). Like many other royalty/streaming companies that benefited from being insulated from inflation, EMX had a phenomenal year, reporting record adjusted revenue and other income of $37.1 million (+46% year-over-year), and record sales of ~15,800 gold-equivalent ounces (GEOs). This is a massive figure relative to its peers in the sub $250 million market cap royalty space, benefiting from catch-up payments at Timok following the temporary royalty dispute (since resolved)....

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