Duke Royalty Limited (DUKE)

Sector:

Financials

Index:

FTSE AIM All-Share

41.00p
   
  • Change Today:
      0.50p
  • 52 Week High: 46.80
  • 52 Week Low: 25.00
  • Currency: UK Pounds
  • Shares Issued: 358.80m
  • Volume: 274,209
  • Market Cap: £147.11m
  • Beta: 0.02

Canaccord Genuity raises target price on Duke Royalty

By Iain Gilbert

Date: Thursday 16 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity raised their target price on finance company Duke Royalty from 45.0p to 52.0p on Thursday following the firm's "resilient" full-year trading performance.
Canaccord, which also reiterated its 'buy' rating on the stock, stated that in the 12 months ended 31 March, Duke had delivered cash revenue of £11.0m, up 7% year-on-year despite the impact of the Covid-19 pandemic, almost exactly in line with its forecasts.

The Canadian bank said Duke's investment portfolio experienced £9.9m of net fair value gains in the period, well ahead of its forecast of £2.2m, which reflected a partial reversal of the £15.6m net fair value and impairment write-downs taken a year prior as a result of the pandemic.

"The net FV uplift is reflective of an improving outlook and resumption of full payments for the majority of royalty partners which were in forbearance," said Canaccord.

Canaccord added that so far in 2022, Duke had deployed around £23.0m to three new royalty partners, including the company's first transaction in North America.

"We forecast cash revenue to grow by 19% in FY22 and 54% in FY23. We are pleased to see the execution of the strategy outlined concurrent with the equity capital raise conducted in April and expect to see further growth in the book over the coming months," said the analysts.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

DUKE Market Data

Currency UK Pounds
Share Price 41.00p
Change Today 0.50p
% Change 1.23 %
52 Week High 46.80
52 Week Low 25.00
Volume 274,209
Shares Issued 358.80m
Market Cap £147.11m
Beta 0.02

DUKE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
54.56% below the market average54.56% below the market average54.56% below the market average54.56% below the market average54.56% below the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average
Price Trend
44.24% below the market average44.24% below the market average44.24% below the market average44.24% below the market average44.24% below the market average
18.84% above the sector average18.84% above the sector average18.84% above the sector average18.84% above the sector average18.84% above the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
86.67% above the sector average86.67% above the sector average86.67% above the sector average86.67% above the sector average86.67% above the sector average
Growth
Market averageMarket averageMarket averageMarket averageMarket average
24.37% above the sector average24.37% above the sector average24.37% above the sector average24.37% above the sector average24.37% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

DUKE Dividends

  Latest Previous
  3rd Interim 2nd Interim
Ex-Div 23-Dec-21 23-Sep-21
Paid 12-Jan-22 12-Oct-21
Amount 0.60p 0.55p

Trades for 18-Jan-2022

Time Volume / Share Price
16:22 15,000 @ 41.00p
16:22 25,000 @ 41.00p
16:04 16,000 @ 40.87p
15:08 30,000 @ 41.00p
15:07 12,634 @ 40.86p

DUKE Key Personnel

CEO Neil A Johnson

Top of Page