Versamet Royalties (NASDAQ:VMET) Stock Picked Up by Analysts at TD Securities

Key Points

• TD Securities initiated coverage of Versamet Royalties with a “buy” rating, while the broader analyst consensus remains “Moderate Buy.” Ratings include one Strong Buy, one Buy and two Holds, alongside a recent Sell downgrade from Wall Street Zen.
• VMET shares opened at $8.51, down 1.8%, with a market capitalization of approximately $926 million. The stock has traded between $6.94 and $15.58 over the past year.
• Versamet reported quarterly EPS of $0.04, missing the $0.06 consensus estimate, on revenue of $23.73 million. Several institutional investors, including Knoll Capital Management, Sequoia Financial Advisors and Ohio’s public employees’ retirement system, recently initiated positions.

Equities researchers at TD Securities initiated coverage on shares of Versamet Royalties (NASDAQ:VMET - Get Free Report) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set a "buy" rating on the stock.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen cut Versamet Royalties from a "hold" rating to a "sell" rating in a research note on Saturday, September 5th. Weiss Ratings upgraded shares of Versamet Royalties from a "sell (e)" rating to a "hold (c)" rating in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy".

Versamet Royalties Stock Down 1.8%

VMET stock opened at $8.51 on Thursday. The company has a market capitalization of $926.14 million and a price-to-earnings ratio of 23.64. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. The firm has a 50 day simple moving average of $9.71. Versamet Royalties has a 12-month low of $6.94 and a 12-month high of $15.58.

Versamet Royalties (NASDAQ:VMET - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). Versamet Royalties had a return on equity of 12.22% and a net margin of 49.92%.The business had revenue of $23.73 million for the quarter. On average, research analysts expect that Versamet Royalties will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Knoll Capital Management LLC purchased a new stake in Versamet Royalties in the 2nd quarter worth about $821,000. Sequoia Financial Advisors LLC purchased a new stake in Versamet Royalties during the second quarter valued at about $338,000. Finally, Public Employees Retirement System of Ohio bought a new position in Versamet Royalties during the second quarter worth about $104,000.

Versamet Royalties Company Profile

Versamet Royalties Corporation is a mineral royalty and streaming company focused on acquiring and managing interests in precious- and base-metal mining assets. Rather than operating mines directly, the company provides capital or other financing to mining companies in exchange for rights to receive a portion of future production, revenue or mineral sales.

Its portfolio is designed to provide exposure to a range of commodities and mining projects across various stages of development, including producing, development-stage and exploration assets.

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