The Globe and Mail reports in its Friday, Oct. 16, edition that Haywood Securities analyst Kerry Smith began coverage of Nomad Royalty Company with a "buy" rating. The Globe's David Leeder writes in the Eye On Equities column that Mr. Smith set a $2.25 share target. Analysts on average target the shares at $2.07. Mr. Smith recommends accumulating Nomad Royalty shares. Mr. Smith says in a note: "Nomad holds a portfolio of eleven precious metals royalties and streams plus a gold prepay loan and one commercial production payment, which includes six assets that are currently in production, one that is on C&M and one that is expected to be in production late this year or early 2021. Nomad is one of the newest players in the precious metals' royalty space, led by a team with significant experience from their tenure with Osisko Royalties. Nomad is focused on free cash flow generation from precious metals royalties and streams, is targeting the lowest G&A in the sector and has already declared an inaugural annual dividend of two cents per share, payable quarterly as of October 15, 2020, for an implied yield of 1.4 per cent, versus the peer average of 0.9 per cent. ... Nomad has tremendous potential."
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