Movers and SHAKERS
Ely Gold Royalties (ELYGF)(ELY:CA)
Existing Portfolio Underpins Visible Growth Outlook
As of April 24, 2020, Noble Capital Markets research on Ely Gold Royalties is published under ticker symbols (ELYGF and ELY:CA). The price target is in USD and based on ticker symbol ELYGF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Ely Gold Royalties Inc is an emerging royalty company with producing and development assets focused in Nevada and the Western US. It offers shareholders a low-risk leverage to the current price of gold and low-cost access to long-term gold royalties.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Existing portfolio provides foundation for growth. In the last year, the company significantly enlarged its asset portfolio via acquisition and option agreements. Ely’s current portfolio includes 12 key assets including 4 producing royalties, 26 development assets, and 43 exploration assets. Ely also owns 20 additional mineral properties which are being marketed for sale. In March, Ely agreed to acquire an additional 25% interest in its Hog Ranch property that will increase its net smelter return royalty to 2.25% from 1.5% and its interest in the leased mining claims to 75.1%.
Growing revenue stream. First quarter revenues increased to C$1,009,921 compared to C$224,993 during the prior year period due to increasing royalty streams. Royalty revenue increased to C$733,821 from C$117,383, while option proceeds increased to C$276,100 from C$107,610. Ely Gold Royalties reported a first quarter loss of C$(0.00) per share compared to C$(0.02) during the prior year period and ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.