Gold Royalty (GROY) has been in focus after reporting preliminary revenue of US$4,501,000 for the quarter and US$15,610,000 for 2025, alongside acquiring a net smelter royalty on Brazil’s Borborema gold mine.

At a share price of US$4.65, Gold Royalty has seen a 26.02% 90 day share price return and a very large 263.28% 1 year total shareholder return. This suggests recent momentum that contrasts with the 1 day and 7 day pullback, as the market weighs the Borborema royalty deal and record preliminary revenue alongside earlier optimism.

If this kind of momentum in precious metals royalties has caught your attention, it could be a good moment to broaden your search with fast growing stocks with high insider ownership.

With record preliminary revenue, a new Brazil royalty and a share price that still sits below the average analyst target, the key question now is simple: is Gold Royalty still mispriced, or is the market already banking on future growth?

Most Popular Narrative: 19.1% Undervalued

Gold Royalty's most followed narrative puts fair value at $5.75 per share, above the current $4.65 price, which sets up a clear valuation gap.

Multiple large, long-life mines in the portfolio have recently ramped up or are nearing commercial production (Côté, Borborema, Vareš), positioning Gold Royalty for a multiyear period of significant attributable gold production growth, directly supporting robust revenue increases and operating cash flow.

Curious what justifies that higher fair value? The narrative leans on steep revenue growth, a sharp swing into profitability and a much richer future earnings multiple.

Result: Fair Value of $5.75 (UNDERVALUED)

However, you still have to weigh concentration risk in a few key mines, as well as the possibility that equity raises and warrants dilute per share outcomes.

Build Your Own Gold Royalty Narrative

If you look at the numbers and reach a different conclusion, or simply prefer to test your own view against the data, you can build a custom thesis in just a few minutes with Do it your way.

A great starting point for your Gold Royalty research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.

Looking for more investment ideas?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.