Gold Royalty price target raised to $2.65 from $.85 at National Bank

National Bank analyst Shane Nagle raised the firm’s price target on Gold Royalty to $2.65 from $.85 and keeps an Outperform rating on the shares. The analyst believes deal flow for the precious metal royalty sector is likely to be centered around smaller deals seeing the majors targeting the same sized acquisitions and sellers putting a premium on cash acquisitions. The firm lowered junior net asset value target multiples to reflect the current industry environment.