Why Gold Royalty (GROY) Just Reaffirmed Its 2026 Outlook

Gold Royalty (GROY) reaffirmed its 2026 full year production guidance of 7,500 to 9,300 gold equivalent ounces, with expectations for heavier output in the second half as key partner mines ramp up.

The latest confirmation of 2026 guidance comes after a weaker recent share price patch, with the stock showing a 24.40% 90 day share price decline but a very large 1 year total shareholder return, leaving momentum looking more mixed.

If this production update has you thinking more broadly about gold exposure, it could be worth scanning other opportunities via our screener of 28 elite gold producer stocks

With the stock down 24.40% over 90 days but showing a very large 1 year total return and trading below some analyst targets, is Gold Royalty now a mispriced way to gain exposure to potential future production growth, or is the market already ahead of it?

Most Popular Narrative: 42.7% Undervalued

Gold Royalty's most followed narrative pegs fair value at $6.00, compared with the last close at $3.44. This frames a wide valuation gap for investors to assess.

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.

Want to see what is behind that projected ramp up? The narrative leans on aggressive revenue expansion, sharply higher margins and a rich future earnings multiple. The full set of assumptions is where the story becomes more specific.

Result: Fair Value of $6.00 (UNDERVALUED)

However, the story could shift quickly if key mines face setbacks or if further share issuances and warrant exercises weigh on per share outcomes.

Next Steps

Mixed signals on value and risk here, so if this update has caught your eye, take a closer look at the details now and weigh the 3 key rewards and 2 important warning signs

Ready to find more ideas before the market moves on?

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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.