The Globe and Mail reports in its Thursday, May 15, edition that National Bank Financial analyst Shane Nagle has reaffirmed his "outperform" recommendation for EMX Royalty. The Globe's David Leeder writes in the Eye On Equities column that Mr. Nagle gave his share target a 25-cent boost to $4.75, matching the consensus. Mr. Nagle says in a note: "Our 'outperform' rating for EMX remains based on revenue generation and growth from large-scale, long-life assets in Caserones and Timok with impactful revenue generated from its royalty origination business. We view an asset like Timok as having world-class potential forming the basis for much of our valuation (37 per cent of NAV). The company has the ability to add royalty interests owing to its exploration partnership agreement and debt facility from Franco-Nevada." The Globe reported on Oct. 23 that Mr. Nagle continued to rate EMX Royalty "outperform." The shares could then be had for $2.68.