Gold Royalty Reported Prelim Q1 Revenue of $2.9M Vs $0.77M YoY, On Track to Accomplish FY24 Revenue of $10.0M-$11.2M Vs $9.64M Est
Portfolio Pulse from Benzinga Newsdesk
Gold Royalty Corp. (GROY) reported a significant increase in its preliminary Q1 revenue for 2024, reaching $2.9M compared to $0.77M in the same quarter of the previous year. The total revenue, including land agreement proceeds and interest, was $4.2M, representing 2,019 gold equivalent ounces (GEOs). This marks a 112% increase from Q1 2023. The company is on track to achieve its FY24 revenue target of $10.0M-$11.2M, based on a gold price of $2,000 per ounce.
April 22, 2024 | 10:20 am
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Gold Royalty Corp. (GROY) reported a preliminary Q1 2024 revenue of $2.9M, a significant increase from $0.77M in Q1 2023, and total revenue of $4.2M. The company is on track to meet its FY24 revenue forecast of $10.0M-$11.2M.
The significant increase in Q1 revenue and the company's progress towards its FY24 revenue target suggest a positive outlook for GROY. The reported growth and future revenue projections are likely to positively influence investor sentiment and potentially drive up the stock price in the short term.
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