Gold Royalty selloff overdone, says National Bank

National Bank keeps an Outperform rating and $2.10 price target on Gold Royalty (GROY) after its Q4 results and production guidance. The stock fell 12% but the selloff is overdone as the stock is supported by the near-term revenue growth, optionality from the project generation group and discounted valuation, the analyst tells investors in a research note. The company’s near-term free cash flow growth also positions it well to be a consolidator throughout the junior royalty sector, the firm added.