MTA | Market Cap: $655.0M (07/13/26)
Industry:
Metals & Mining
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DESCRIPTION

Metalla is a precious metals royalty and streaming company focused on gold, silver, and copper. Metalla owns a portfolio of over 99 royalties and streams on mining projects operated by third parties — including major miners like Agnico Eagle, Newmont, Barrick, and First Quantum — but does not operate any mines itself. Under royalty agreements, Metalla collects a percentage of a mine's revenue with no obligation to fund operating costs or capital expenditures. Under streaming agreements, Metalla purchases a portion of future metal production at a fixed below-market price and sells it at spot, with margins widening as metal prices rise. Metalla has deployed over $300M across 33 transactions to build its portfolio. Its two most material assets are a royalty on the Côté gold mine in Ontario, operated by IAMGOLD, and a royalty on the Taca Taca copper project in Argentina, operated by First Quantum. The portfolio spans production, development, and exploration-stage assets across Canada, the U.S., Mexico, Argentina, Chile, Brazil, Australia, and others. Only 7 assets are currently producing cash flow, while the remaining assets represent future optionality as they advance toward production. Metalla's business model is intentionally capital-light — the company runs on just 9 employees, and once a royalty or stream is acquired, no further capital is required to participate in a mine's upside.

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