Movers and SHAKERS
Wednesday, July 1, 2020
Ely Gold Royalties (ELYGF)(ELY:CA)
Still Early Days in an Emerging Growth Story
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.
Gold prices continue to strengthen. Year-to-date, the gold futures price has increased 17.2% to close at $1,799.30 per ounce on June 30 and is up 12.7% since the end of the first quarter. In our view, the outlook for gold remains favorable based on U.S. and global monetary and fiscal policies that support gold as a store of value. Gold's safe haven appeal has increased due to economic concerns caused by a resurgence of COVID-19 cases and geopolitical frictions, including China and Hong Kong. Ely Gold offers shareholders leverage to gold prices through its growing portfolio of long-term gold royalties.
Early days in the Ely Gold Royalties growth story. Junior royalty companies generally offer greater growth and higher returns during their early years. Ely has announced 12 transactions in 2020 and has ample financial flexibility for additional ...
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.