Ben Kramer-Miller
Gold & precious metals, macro, research analyst, deep value

Callinan Royalties Is An Excellent, Inexpensive Royalty Stock

An Overview Of Callinan Royalties

Callinan Royalties (OTCQX:CCNMF) is one of the smaller companies in the metals royalty space with a valuation of just $80 million. It has a strong working capital position of $27 million and $22 million in cash/equivalents, a handful of equity and debt-based investments, and several royalty agreements. The one royalty agreement that stands out is the company's royalty on HudBay Minerals' (NYSE:HBM) 777 Project. The others have very little value and are years away from generating cash-flow.

If you compare it with its peers it trades at a discount, and at first glance this would make it compelling. After all, like its peers it has very strong profit margins, a rock...

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