GROY - Gold Royalty Corp.: A Lofty Valuation For No Producing Assets
- Gold Royalty Corp. is up more than 40% since its IPO debut in March, massively outperforming most of its royalty/streaming peers.
- However, unlike its peers, Gold Royalty Corp. has no assets that are currently in production, and is not generating any meaningful revenue.
- Worse, the company's one deal that looked like it could generate revenue starting in FY2023 was not completed, with it instead sold to Franco-Nevada.
- While cash-rich, Gold Royalty Corp. is still trading at a ~$123 million valuation pre-revenue, a lofty price to pay for a name with no clear path to generating any meaningful revenue in the next two years.
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Gold Royalty Corp.: A Lofty Valuation For No Producing Assets