Gold Royalty Corp. (GROY) Achieves Record Revenue on Gold Production Surge

Gold Royalty Corp (NYSE:GROY) is one of the Canadian penny stocks to buy right now. On November 5, Gold Royalty Corp (NYSE:GROY) delivered another quarter of record revenue, benefiting from portfolio ramp-up as new mines entered production.

Gold Royalty Corp. (GROY) Achieves Record Revenue on Gold Production Surge

The company achieved record revenue of $4.1 million in the third quarter. It also reported total revenue, land agreement proceeds, and interest of $4.6 million, achieved from 1,323 gold ounces in the quarter. It also achieved a record adjusted EBITDA of $2.5 million and record positive cash flow from operations of $2.4 million in the quarter.

Nevertheless, it exited the quarter with a net loss of $1.13 million, or $0.01 a share, compared to net income of $3.4 million, or $0.02 a share, in the same quarter last year.

David Garofalo, Chairman and CEO of Gold Royalty, commented: “The continued ramp-up of our portfolio, with new mines entering production, has delivered another quarter of record revenue and record Total Revenue, Land Agreement Proceeds and Interest. With positive cash flow and additional proceeds from warrant exercises, we have further reduced debt, lowered interest costs, and strengthened our balance sheet. Our disciplined approach keeps us on track to continue using cash generated from operations to de-lever throughout 2026.”

Meanwhile, on November 11, Maxim Group analyst Tate Sullivan reiterated a Buy rating on the stock with a $5 price target.

Gold Royalty Corp (NYSE:GROY) is a gold-focused company that acquires and manages royalties and streams for metals and mining companies, providing creative financing solutions. It builds a diversified portfolio of these interests to generate returns for its investors from various stages of the mine life cycle, with a focus on projects in the Americas.

While we acknowledge the potential of GROY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GROY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.