Uranium Royalty Corp. filed a shelf registration covering 226,719,982 common shares. The company could raise up to US$915.9 million through future sales of those shares.
The filing gives the company flexibility to raise capital, but issuing shares could significantly dilute existing investors.
The stock performed strongly over the past 90 days, though recent trading has been more volatile. Analysts say it is trading near its average price target. The new registration adds an overhang to the valuation, and some discounted cash flow models suggest the stock may be overvalued.