UK's Ecora Resources 2025 rsults hit by drop in coal royalties

Ecora Royalties

26/03/2026 07:16

Overview

UK critical minerals royalty firm's 2025 portfolio contribution fell as coal royalties dropped sharply

Adjusted earnings and adjusted EPS declined yr/yr; but company posts pre-tax profit vs a year-ago loss

Free cash flow rose 21% and net debt ended below Q2 peak after Mimbula copper stream deal

Outlook

Ecora expects continued volume growth in base metals royalties and streams in 2026

Company sees a series of value catalysts in the next 12 months, including project milestones at Santo Domingo, Mantos Blancos, Phalaborwa and Nifty

Company says market and commodity price volatility persists due to conflict in Iran, but long-term copper outlook remains strong

Result Drivers

COBALT AND COPPER RAMP-UP - Higher cobalt volumes and prices at Voiseys Bay and record copper output at Mantos Blancos drove base metals portfolio contribution higher

MIMBULA COPPER STREAM - Acquisition of Mimbula copper stream contributed $2.9m to portfolio after ramp-up in production

LOWER COAL PRICES - Kestrel steelmaking coal royalty contribution fell due to lower average sale prices

Company press release: ID:nRSZ1781Ya

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Adjusted Net Income
$22.10 mln
FY Dividend
$0.01


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the diversified mining peer group is "buy"

Wall Street's median 12-month price target for Ecora Royalties PLC is GBp175.00, about 34.6% above its March 25 closing price of GBp130.00

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)