NRC
Fiscal year ends May Quarters are offset from the calendar — Q1 is Jun–Aug

Nations Royalty Corp. (formerly Vega Mining Inc.) is a royalty company focused on acquiring royalties and similar financial entitlements in the resource sector. The company partners with Indigenous communities to convert royalty payments from Benefit Agreements into equity, providing exposure to precious and critical metals. Incorporated in 2007, the company changed its name in 2024 following the acquisition of Nations Acquisition Corp. Its initial focus is on Canada, with a vision to engage with Indigenous groups globally. The company diversifies its portfolio of royalties across mining projects to generate returns for shareholders.

Summarised from the company's own disclosures, fiscal year ended Mar 2026

Industry Asset Management Homepage nationsroyalty.ca
Sector Financial Services IR page nationsroyalty.ca/investors
Tags
royalties, indigenous partnerships, precious metals, critical metals, mining, benefit agreements, equity investment, Nations Acquisition Corp., Nationsco
Press page —

Metrics

Valuation  
Market cap C$ 221.98M
P/E —
P/BV —
P/S —
P/OCF —
P/FCF —
Dividend yield —
Turnover / mcap —
Returns  
ROE -23.0%
ROI -14.9%
ROIC -14.9%
Profit margin —
Growth  
Revenue growing —
Profits growing Yes
Revenue up 3y —
Revenue up 5y —
Quality  
Profitable No
Margin expanding —
Buying back stock —
Diluting (TTM) —
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News sentiment (TTM) 0
Quality score —
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Figure FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 FY 2019
Assets 18.911M 5.636M 10.083M 898.618K 0 0 0 0
Net profit -2.796M -28.548M -1.285M -246.187K -63.081K -14.544K — —

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Nations Royalty Corp. (ticker NRC), listed in Canada.