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1. Company Snapshot

1.a. Company Description

EMX Royalty Corporation, together with its subsidiaries, engages in the exploring for, and generating royalties from, metals and minerals properties.It explores for gold, silver, platinum, palladium, copper, lead, zinc, nickel, cobalt, volcanogenic massive sulfide, molybdenum, and iron deposits.The company's royalty and exploration portfolio primarily consist of properties in North America, Turkey, Europe, Australia, New Zealand, South America, as well as Sweden, and Norway.


The company was formerly known as Eurasian Minerals Inc.and changed its name to EMX Royalty Corporation in July 2017.EMX Royalty Corporation is headquartered in Vancouver, Canada.

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1.b. Last Insights on EMX

EMX Royalty Corporation's recent performance was driven by several positive developments. The company strengthened its balance sheet by ending the year with approximately $27 million in cash and cash equivalents, and $35 million in long-term debt. Additionally, EMX completed its 5 million share Normal Course Issuer Bid program, which demonstrates its commitment to returning value to shareholders. The company also executed agreements to sell four projects in Western USA to Pacific Ridge Exploration, and acquired a 1% NSR royalty on the Chapi Copper Mine Property in Peru for $7 million. Furthermore, EMX purchased a 0.625% NSR royalty interest covering the Urasar gold-copper project in Armenia.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Aftermath Silver Completes Final Payment for the Berenguela Silver-Copper-Manganese Project

Nov -24

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Camino Completes C$5.6 Million Investment with Strategic Investors

Nov -17

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Elemental Altus Royalties Corp (ELEMF) Q3 2025 Earnings Call Highlights: Record Revenue and ...

Nov -14

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EMX Buys Royalty on Development-Stage Copper Asset in Chile; Involves Camino Minerals, Up 19% at 52 Week Highs

Nov -12

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EMX Acquires a Royalty on a Development-Stage Copper Asset in Chile

Nov -12

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Camino Announces C$5.6 Million Investment with Strategic Investors

Nov -12

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EMX Receives Court Approval for Arrangement with Elemental Altus

Nov -10

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EMX Announces the Receipt of $3.4M and a 2.5% NSR Royalty on the Close of the Superior West Option Agreement with Kennecott Exploration

Nov -06

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Precious, Base and Battery Metals

Expected Growth: 4.5%

Growing demand for electric vehicles and renewable energy drives the growth of battery metals like lithium and cobalt. Increasing industrial activities and infrastructure development boost the demand for base metals like copper and zinc. Investment and jewelry demand support the growth of precious metals like gold and silver.

7. Detailed Products

Royalty Generation

EMX Royalty Corporation generates royalties from its portfolio of precious metal and base metal properties, providing a steady stream of revenue.

Property Portfolio Management

EMX manages a diverse portfolio of mineral properties, providing a range of opportunities for exploration, development, and production.

Exploration and Development Partnerships

EMX partners with other companies to explore and develop mineral properties, sharing risks and rewards.

Royalty Financing

EMX provides financing to mining companies in exchange for royalties on their properties.

Technical Services

EMX offers technical services, including geological consulting and project evaluation, to the mining industry.

8. EMX Royalty Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

EMX Royalty Corporation operates in the mining industry, which has a moderate threat of substitutes. While there are alternative metals and materials, the demand for precious metals and other minerals is relatively inelastic, reducing the threat of substitutes.

Bargaining Power Of Customers

EMX Royalty Corporation's customers are primarily mining companies, which have limited bargaining power due to the company's diversified portfolio of royalties and interests in various mining projects.

Bargaining Power Of Suppliers

EMX Royalty Corporation's suppliers are primarily mining companies and contractors, which have some bargaining power due to the company's reliance on them for exploration and mining services. However, the company's diversified portfolio and strong relationships with suppliers mitigate this risk.

Threat Of New Entrants

The threat of new entrants in the mining industry is low due to the high barriers to entry, including significant capital requirements, regulatory hurdles, and the need for specialized expertise and equipment.

Intensity Of Rivalry

The mining industry is highly competitive, with many established players and a high level of rivalry. EMX Royalty Corporation faces intense competition for mineral properties, royalties, and interests in mining projects.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 21.38%
Debt Cost 7.88%
Equity Weight 78.62%
Equity Cost 7.88%
WACC 7.88%
Leverage 27.19%

11. Quality Control: EMX Royalty Corporation passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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US Lime & Minerals

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EMX Royalty

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Value: 0.7

Growth: 8.3

Quality: 6.3

Yield: 0.0

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Volatility: 5.0

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A-Score: 3.0/10

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Yield: 0.0

Momentum: 1.0

Volatility: 1.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

5.7$

Current Price

5.7$

Potential

-0.00%

Expected Cash-Flows