National Bank initiated coverage of Metalla Royalty & Streaming with an Outperform rating and C$6.50 price target as part of a broader research note for mining companies. The firm is initiating select junior miners while citing gold prices near record highs and expectations for global monetary policy easing to continue. National Bank also notes that with origination of new royalty deals set to remain competitive/challenging, it is ascribing more value to growth-oriented names with support for consolidation of Junior royalty portfolios. The firm is positive on the company’s growth outlook, diversified portfolio and high quality counterparties as being supportive of a re-rating.
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