Vancouver, May 27, 2026, 04:04 PDT
- Versamet shares on the TSX ended Tuesday at C$17.00, about 14% higher since May 19.
- VMET (Nasdaq) finished Tuesday at $12.31, gaining 3.53%. This was before the regular session on Wednesday.
- Gold fell for a second straight session, putting pressure on investor interest in precious-metals royalty stocks.
Versamet Royalties Corp shares are trading near recent highs, with the newly Nasdaq-listed royalty company seeing pressure as gold prices dipped before North America’s regular session on Wednesday.
The Toronto-listed shares finished Tuesday at C$17.00, gaining 0.83%, and extended their streak to five days of gains. They’re still trading about 9% under the 52-week high of C$18.64, and sit around 14% higher than where they closed on May 19. U.S.-listed shares on Nasdaq ended at $12.31, up 3.53%.
Versamet’s push for scale is in focus here. The company began trading on Nasdaq in March. CEO Dan O’Flaherty said at the time that the listing would “meaningfully improve liquidity” and open the door to more U.S. investors. TMX Newsfile
Toronto and New York markets were still closed for regular trading. TSX is open from 9:30 a.m. to 4 p.m. ET, and Nasdaq pre-market goes from 4 a.m. to 9:30 a.m. ET.
Versamet does royalties and streams, meaning it finances or buys rights to future mine output instead of running mines. A stream lets Versamet buy some of a mine’s future metal, often at a fixed discount or with a pricing formula.
Versamet posted record first-quarter revenue of $24.0 million and 4,913 gold-equivalent ounces, or GEOs. GEOs convert revenue from other metals into gold units. CEO O’Flaherty said the company is “on track to achieve our 2026 production guidance” of 20,000 to 23,000 GEOs.
Versamet’s growth is linked to moving assets from build-out to generating cash. The company in April closed its $340 million cash buy of a 3.52% life-of-mine gold stream at Skeena Gold & Silver’s Eskay Creek site in British Columbia. Versamet also issued 2.05 million shares as part of the deal. It sees the project producing over 300,000 ounces of gold annually in the first five years.
Versamet is still much smaller than the top royalty and streaming companies, with giants like Wheaton Precious Metals, Franco-Nevada and Royal Gold having larger portfolios and more assets, liquidity and diversity. The sector is crowded, but the rivals are well known.
Gold slid 0.3% to $4,494.16 an ounce on Wednesday, Reuters said, with fresh U.S.-Iran tensions fueling inflation worries. Lukman Otunuga at FXTM said “further signs of rising price pressure” could mean more downside for gold if rate bets get firmer. Reuters
Versamet has an average 12-month price target of C$19.42, according to analysts tracked by Investing.com. The data lists five buys, and zero holds or sells. That target is higher than where shares finished Tuesday, but doesn’t give Versamet much cushion if gold prices fall.
Versamet is tapping more debt to back expansion. In March, CFO Victoria McMillan said a bigger credit line “enhances our financial flexibility,” after Versamet changed its borrowing deals with Bank of Montreal and National Bank Capital Markets. TMX Newsfile
But there are clear risks here. Versamet’s SEC filing warns production forecasts might miss and that the company faces operator, permitting and foreign-country risks, including at the Kiaka project in Burkina Faso. If gold falls more, or if Eskay Creek, Kiaka or Rosh Pinah miss ramp-up plans, the stock’s recent rebound could evaporate.
