AEM:CC - Gold Royalty Corp.: Continued Resource Growth At Key Assets
2023-04-16 05:17:55 ET
Summary
- Gold Royalty Corp. has been one of the worst-performing royalty/streaming stocks since its IPO debut, putting together a miserable performance of (-) 47% since its IPO debut.
- This underperformance is attributed to GRC coming out of the gate as the most overvalued royalty name & being heavily promoted at the wrong price, which unsurprisingly didn't work out.
- However, with the stock down ~65% from its highs and having two cornerstone royalty assets held by top-3 operators plus some other solid royalties, the valuation has become more interesting.
- So, while this isn't my top pick in the royalty/streaming space by any means, the relative value here is undeniable, and I see GROY stock as a Speculative Buy on any pullbacks below US$2.11.
For further details see:
Gold Royalty Corp.: Continued Resource Growth At Key Assets