- EMX Royalty has significantly underperformed its peers over the past year, sliding more than 40% from its highs.
- This is partially related to share dilution related to the SSR Mining royalty portfolio acquisition, though this dilution was more than justified given the attractiveness of this portfolio.
- Unfortunately, the stock took another leg down on news that its royalty at Cukaru Peki was under dispute, but the company did get some positive news recently that partially offset this.
- Based on EMX's reasonable valuation and solid growth profile, I see the stock as reasonably valued, and I would view the stock as a Speculative Buy at US$1.98 or lower.
For further details see:
EMX Royalty: A Reasonable Valuation Despite Cukaru Peki Uncertainty