The Globe and Mail reports in its Friday edition that Raymond James analyst Brian MacArthur commenced coverage on Uranium Royalty with an "outperform" rating and $4.50 target. The Globe's David Leeder writes that analysts on average target the shares at $7.10. Mr. MacArthur says in a note: "Uranium Royalty is a unique company as the largest publicly traded uranium focused royalty company. We believe royalty companies like Uranium Royalty offer equity investors diversified exposure to commodity prices while mitigating downside risk given limited exposure to operating and capital costs. At the same time, upside optionality exists through exploration and asset expansion potential. We also believe the outlook for uranium is positive given the combination of growing uncovered demand, security of supply concerns given the concentrated supply and current geopolitical situation, long lead times for greenfield production and the fact some greenfield projects would need higher uranium prices, and increased financial interest. Uranium Royalty's royalty portfolio is focused on uranium assets with lower jurisdictional risk, longer duration, and backed by some strong operators. Uranium Royalty also has a strong balance sheet."