Analysts at Liberum Capital reiterated a 'buy' rating and 75p price target on Trident Royalties PLC (AIM:TRR) after its latest quarterly activities update.
The Liberum analysts noted that the company's revenues were up 20% quarter-on-quarter boosted by better gold offtake revenues and the minimum top-up payment from the Lincoln gold royalty.
They said: "Trident results are in sharp contrast to its mining peers struggling with opex and capex inflation, and further underlines the value of the royalties model."
"The company is on track for a very important Q1’23 with catalysts of the Thacker Pass Lithium project and the Sonora Lithium project," the Liberum analysts concluded.