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EMX Royalty Price Target Raised to $5.75 from $5.25 by National Bank of Canada

BY MT Newswires | ECONOMIC | 08/12/25 11:13 AM EDT

11:13 AM EDT, 08/12/2025 (MT Newswires) -- National Bank of Canada maintained its outperform rating on the shares of EMX Royalty (EMX) while raising its price target to $5.75 from $5.25 following the company's second-quarter results.

EMX's second-quarter results included an adjusted EBITDA of US$4.9 million, below the bank's estimates of US$6.0 million. Its adjusted royalty revenue of US$8.2 million missed the bank's forecast of US$9.8 million.

National Bank raised the price target on the account of revenue from the Vittangi asset as well as the application of a lower discount rate at the Timok operation to reflect positive advancement of Lower Zone development.

The bank also cited the premium applied in the market to large-scale "world-class" assets under current market conditions.

EMX's rating remains based on revenue generation and growth from large-scale, long-life assets in Caserones and Timok, with impactful revenue generated from its royalty origination business, the bank said.

Price: 4.24, Change: -0.02, Percent Change: -0.47

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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