Gold Royalty Falls 13% on Equity Offering, Copper-Focused Transaction for Vares Project
By Josh Beckerman
Gold Royalty shares were down 13% after the company announced a bought deal offering of about $30 million and a $50 million copper-related transaction for the Vares silver project in Bosnia and Herzegovina.
The stock was recently at $1.68 on Tuesday and is up about 14% this year.
The project is operated by a unit of Adriatic Metals. Gold Royalty said that while its portfolio is still mainly focused on precious metals, the Vares transaction will help it benefit from record copper prices.
The company agreed to sell 17.4 million units, each including a share and warrant, for $1.72 each.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 28, 2024 13:28 ET (17:28 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
Undervalued by 25% and Yielding 5%, This Stock Is a Buy
-
Can AI Predict Future Stock Returns?
-
The Best Energy Stocks to Buy Now
-
10 Undervalued Wide-Moat Stocks
-
Obesity Drugs: Can New Firms Take Market Share From Eli Lilly and Novo Nordisk?
-
New 4-Star Stocks
-
Intel Fair Value Left Unchanged Despite Qualcomm Takeover Talk