The Globe and Mail reports in its Wednesday, Oct. 14, edition that BMO Nesbitt Burns analyst Rene Cartier began coverage of Nomad Royalty Company ($1.33) with a "market perform" rating and $1.70 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $2.25.
Mr. Cartier says in a note, "While multiple expansion typically occurs through assets entering production, and through a more de-risked portfolio, in our view, Nomad Royalty is trading in line with peers thereby reflecting these expectations." The Globe reported on Sept. 24 that Industrial Alliance Securities analyst Puneet Singh says Nomad Royalty possesses a business model that is "high margin, safe and proven at providing returns." He began coverage with a "buy" rating and $2.30 share target. The shares could then be had for $1.79.
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