Ecora Royalties Management
Management criteria checks 3/4
Ecora Royalties' CEO is Marc Lafleche, appointed in Apr 2022, has a tenure of 4.42 years. directly owns 0.48% of the company’s shares, worth £2.09M. The average tenure of the management team and the board of directors is 4.5 years and 4.8 years respectively.
Key information
Marc Lafleche
Chief executive officer
n/a
Total compensation
| CEO salary percentage | n/a |
| CEO tenure | 4.4yrs |
| CEO ownership | 0.5% |
| Management average tenure | 4.5yrs |
| Board average tenure | 4.8yrs |
Recent management updates
Recent updates
Narrative Update • Aug 17
ECOR: Future Returns Will Rely On Dividend Payouts And Royalty Reconfiguration
Analysts have raised their price target on Ecora Royalties to £1.90 from £1.72, citing updated assumptions for slightly higher revenue growth, a modestly stronger profit margin profile, and an increased future P/E multiple, while keeping the discount rate broadly in line with prior estimates. Analyst Commentary Recent research on Ecora Royalties gives you a mixed but generally constructive picture of how the stock is being framed on the Street.
Narrative Update • Jul 08
ECOR: Critical Minerals Royalty Reconfiguration Will Support Future Cash Flow ReRating
Ecora Royalties' analyst price target has been updated from £1.50 to £1.60. Analysts cite the company's critical minerals focused royalty portfolio, its 10 operating royalties and four nearing development, and an ongoing portfolio reconfiguration toward base metals derived revenue as key factors behind their revised fair value assumptions and slightly higher revenue growth outlook.
Narrative Update • Jun 24
ECOR: Higher P/E Expectations And Dividend Policy Will Shape Future Returns
Analysts have nudged their price target for Ecora Royalties up from £1.50 to about £1.57, citing updated assumptions on fair value, discount rate, revenue growth, profit margins, and a higher future P/E that align with recent Street research, including Scotiabank's move to a £1.60 target. Analyst Commentary Recent research on Ecora Royalties shows a split in analyst opinion, with some viewing the valuation as more attractive and others highlighting risks around earnings visibility and execution.Narrative Update • Jun 09
ECOR: Future Returns Will Depend On Dividend Payouts And Higher P/E Assumptions
The analyst price target for Ecora Royalties has been reduced by £0.10. Analysts attribute this change to adjustments in forecast revenue growth, profit margins, the discount rate, and a higher assumed future P/E multiple used to support the new fair value estimate.Narrative Update • May 26
ECOR: Future Upside Will Rely On Dividend Stability And Royalty Cash Flow Risk
Ecora Royalties’ updated analyst price target edges slightly lower to £1.71, as analysts factor in a marginally higher discount rate and a small reset to assumed future P/E multiples, while keeping revenue growth and profit margin expectations essentially unchanged. Analyst Commentary Bullish Takeaways Bullish analysts appear comfortable keeping Ecora Royalties’ revenue and margin assumptions intact, which supports the view that the company’s existing portfolio can underpin current earnings expectations.Narrative Update • May 10
ECOR: Future Upside Will Hinge On Refined Royalty Assumptions And Dividend Policy
Ecora Royalties’ analyst price target has been trimmed by £0.10 to £1.54, as analysts factor in updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E following recent rating and target moves across the sector. Analyst Commentary Recent research on Ecora Royalties has focused on recalibrating fair value assumptions and risk factors, which has fed directly into the latest £1.54 price target and rating changes.Narrative Update • Apr 25
ECOR: Higher Discount Rate And Dividend Outlook Will Support Stronger Profitability
Ecora Royalties' analyst price targets have increased to £1.90 from £1.50 as analysts factor in a higher discount rate, along with updated expectations for slower revenue growth, stronger profit margins and a lower future P/E multiple. Analyst Commentary Recent Street research on Ecora Royalties has been mixed, with both upward and downward adjustments to price targets and ratings.Narrative Update • Apr 09
ECOR: Future Upside Will Depend On Reset Royalty Assumptions And Dividend Framework
Ecora Royalties' updated analyst price target moves to £1.72 from £1.71, with analysts pointing to revised growth and margin assumptions and a slightly lower discount rate as key drivers of the change. Analyst Commentary Recent research on Ecora Royalties shows a mix of optimism and caution as price targets and ratings are adjusted around updated assumptions.Analysis Article • Apr 04
Ecora Royalties' (LON:ECOR) Solid Earnings Have Been Accounted For Conservatively
Ecora Royalties PLC's ( LON:ECOR ) recent earnings report didn't offer any surprises, with the shares unchanged over...Analysis Article • Mar 29
Ecora Royalties PLC Just Beat EPS By 225%: Here's What Analysts Think Will Happen Next
Investors in Ecora Royalties PLC ( LON:ECOR ) had a good week, as its shares rose 3.8% to close at UK£1.30 following...Narrative Update • Mar 26
ECOR: Future Upside Will Hinge On Reassessed Cash Flow And Discount Rate Assumptions
Narrative Update on Ecora Royalties The analyst price target for Ecora Royalties has been adjusted to £1.54, with analysts citing refined assumptions for fair value, discount rate, revenue growth, profit margins and future P/E as key drivers behind the change. Analyst Commentary Recent research on Ecora Royalties reflects a more measured stance, with the latest move being a downgrade to Hold alongside a price target of 154 GBp. This aligns with the updated analyst fair value assumption of £1.54 mentioned earlier.Narrative Update • Mar 11
ECOR: Future Upside Will Hinge On Phalaborwa Execution And Portfolio Cash Flows
Analysts have lifted their price target on Ecora Royalties to about £1.68 per share from roughly £1.39, reflecting updated assumptions for revenue growth, margins and future P/E, while recent research opinions remain mixed, with a downgrade to Hold and a separate price target increase. Analyst Commentary Recent research on Ecora Royalties points to a mixed setup, with some analysts turning more cautious at current levels while others are still prepared to lift their valuation assumptions.Narrative Update • Feb 25
ECOR: Higher P/E Assumptions And Downgraded Rating Will Shape Future Returns
The analyst price target for Ecora Royalties has been adjusted to £1.54 from £1.15, with analysts citing updated assumptions on revenue growth, profit margins and future P/E as key drivers of the change. Analyst Commentary Recent research coverage on Ecora Royalties reflects a mix of recalibrated expectations and more cautious stances on the shares.Narrative Update • Feb 10
ECOR: Elevated Revenue And Margin Assumptions Will Pressure Future Rating
Ecora Royalties’ analyst price target has been raised by £0.15 to £1.15, with analysts pointing to revised expectations for revenue growth of about 33%, a higher profit margin near 24%, and a lower future P/E of about 36, even as they apply a slightly higher discount rate of around 9.3%. Analyst Commentary The latest research points to a higher price target of £1.15 for Ecora Royalties, paired with assumptions for around 33% revenue growth, a profit margin near 24%, and a forward P/E of about 36.Narrative Update • Jan 27
ECOR: Future Royalty Appeal Will Rely On Phalaborwa Resource Execution
Analysts have trimmed their fair value estimate for Ecora Royalties from £1.41 to £1.39, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E levels. Analyst Commentary Recent valuation work around Ecora Royalties sits against a broader backdrop of mixed moves in equity research, where some stocks are seeing more optimistic stances while others face trimmed expectations.Narrative Update • Jan 11
ECOR: Future Royalty Upside Will Stem From Expanded Phalaborwa Rare Earth Resource
Analysts have lifted their price target for Ecora Resources from £1.34 to £1.41, citing a slightly lower discount rate, a small adjustment in projected revenue growth and profit margin, and a higher future P/E assumption as key factors behind the change. What's in the News Ecora Resources highlights an updated Mineral Resource Estimate at the Phalaborwa rare earths project, which now includes yttrium alongside other heavy rare earth elements that are subject to Chinese export controls (Key Developments).Narrative Update • Dec 17
ECOR: Future Royalty Upside Expected From Expanded Phalaborwa Rare Earth Resource
Analysts have raised their price target on Ecora Resources by approximately 10 percent, to about $1.34 from around $1.22, citing expectations of stronger revenue growth, improved profit margins, and a lower future P E multiple that supports a more attractive valuation. What's in the News Ecora Resources highlighted an updated Mineral Resource Estimate at Rainbow Rare Earths' Phalaborwa project, which now includes yttrium, a heavy rare earth element recently subject to Chinese export controls, potentially enhancing project economics (company announcement).Analysis Article • Nov 29
Ecora Resources (LON:ECOR) Use Of Debt Could Be Considered Risky
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Jul 24
Risks To Shareholder Returns Are Elevated At These Prices For Ecora Resources PLC (LON:ECOR)
When you see that almost half of the companies in the Metals and Mining industry in the United Kingdom have...
New Narrative • Feb 17
While Future Projects May Contribute Revenue, Analysts Foresee Declining Earnings
Strategic acquisitions in royalty and low-cost projects like Phalaborwa, Voisey’s Bay, West Musgrave, and Santo Domingo could significantly boost long-term revenue and earnings.Analysis Article • Sep 11
We Like The Quality Of Ecora Resources' (LON:ECOR) Earnings
Ecora Resources PLC's ( LON:ECOR ) solid earnings announcement recently didn't do much to the stock price. We did some...Analysis Article • Nov 21
Ecora Resources (LON:ECOR) Has A Somewhat Strained Balance Sheet
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Apr 03
Ecora Resources (LON:ECOR) Will Pay A Dividend Of $0.0175
The board of Ecora Resources PLC ( LON:ECOR ) has announced that it will pay a dividend on the 7th of June, with...Analysis Article • Apr 01
Earnings Miss: Ecora Resources PLC Missed EPS By 20% And Analysts Are Revising Their Forecasts
As you might know, Ecora Resources PLC ( LON:ECOR ) recently reported its full-year numbers. It looks like a pretty bad...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2026 | n/a | n/a | US$50m |
| Mar 31 2026 | n/a | n/a | US$36m |
| Dec 31 2025 | n/a | n/a | US$22m |
| Sep 30 2025 | n/a | n/a | -US$4m |
| Jun 30 2025 | n/a | n/a | -US$30m |
| Mar 31 2025 | n/a | n/a | -US$20m |
| Dec 31 2024 | US$979k | US$590k | -US$10m |
| Sep 30 2024 | n/a | n/a | US$5m |
| Jun 30 2024 | n/a | n/a | US$20m |
| Mar 31 2024 | n/a | n/a | US$10m |
| Dec 31 2023 | US$891k | US$532k | US$847k |
| Sep 30 2023 | n/a | n/a | -US$3m |
| Jun 30 2023 | n/a | n/a | -US$7m |
| Mar 31 2023 | n/a | n/a | US$44m |
| Dec 31 2022 | US$752k | US$326k | US$95m |
Compensation vs Market: Insufficient data to establish whether Marc's total compensation is reasonable compared to companies of similar size in the UK market.
Compensation vs Earnings: Marc's compensation has been consistent with company performance over the past year.
CEO
Marc Lafleche (43 yo)
4.4yrs
Tenure
US$979,042
Compensation
Mr. Marc Bishop Lafleche serves as Chief Executive Officer and Executive Director at Ecora Royalties PLC (formerly known as Ecora Resources PLC) April 1, 2022. He was Chief Investment Officer at Ecora Roya...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 4.4yrs | US$979.04k | 0.48% £ 2.1m | |
| CFO & Executive Director | 14.7yrs | US$691.09k | 0.19% £ 834.0k | |
| Investment Manager | no data | no data | no data | |
| Head of Technical | less than a year | no data | no data | |
| Head of Investor Relations | 4.3yrs | no data | no data | |
| Head of Legal | no data | no data | no data | |
| Head of Communications | 4.7yrs | no data | no data | |
| Group Financial Controller & Company Secretary | 5.8yrs | no data | no data |
4.5yrs
Average Tenure
Experienced Management: ECOR's management team is considered experienced (4.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 4.4yrs | US$979.04k | 0.48% £ 2.1m | |
| CFO & Executive Director | 6.7yrs | US$691.09k | 0.19% £ 834.0k | |
| Member of Advisory Board | no data | no data | no data | |
| Member of Advisory Board | no data | no data | no data | |
| Member of Advisory Board | no data | no data | no data | |
| Senior Independent Director | 5.1yrs | US$111.89k | 0.0040% £ 17.3k | |
| Independent Non-Executive Director | 3.7yrs | US$82.23k | 0.011% £ 48.2k | |
| Independent Non-Executive Director | 6.9yrs | US$93.01k | 0.048% £ 205.4k | |
| Independent Non-Executive Director | 6.8yrs | US$97.06k | 0.060% £ 259.8k | |
| Independent Chairman | 2.7yrs | US$248.04k | 0.028% £ 121.3k | |
| Non-Executive Director | 1yr | US$25.61k | no data |
4.8yrs
Average Tenure
62.5yo
Average Age
Experienced Board: ECOR's board of directors are considered experienced (4.8 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/21 05:00 |
| End of Day Share Price | 2026/09/21 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Ecora Royalties PLC is covered by 12 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Riley Venton | Atrium Research |
| Richard Hatch | Berenberg |
| Edward Sterck | BMO Capital Markets Equity Research |