Liberum analysts remain optimistic about Trident Royalties PLC's (AIM:TRR, OTCQX:TDTRF) performance moving into the second quarter following today’s first-quarter results.
"We expect both ounces and margins to lift into Q2, based on first gold production from the Greenstone mine and the high gold price volatility in the quarter so far," they commented.
These comments come after Trident’s royalty revenues dipped to $2.98 million, marking a 6% decrease from the previous quarter, primarily attributed to a significant 24% reduction in gold offtake ounces.
Despite this, Liberum noted that the impact was cushioned by robust margins per ounce achieved during the period.
Trident shares remain a buy with a slightly redacted price target of 72p from 74p against a 38.55p publication price.