10:53 AM EST, 01/07/2025 (MT Newswires) -- RBC Capital Markets on Tuesday removed Topaz Energy ( TPZEF ) from its Global Energy Best Ideas list.

RBC said the move reflects the company's "very strong returns" through 2024, including a total return of 53%, one of the highest among RBC's coverage.

"We remain constructive towards TPZ, as highlighted in our latest quarterly note and their diversified royalty/infrastructure business model centered around the Montney and Clearwater plays in the [Western Canada Sedimentary Basin] while delivering strong sustainable shareholder returns (72% payouts)," RBC said.

Topaz maintained its Outperform rating and $32 price target. The company's share price was up 0.3% at last look to $28.33 on the TSX.

Price: 28.39, Change: +0.13, Percent Change: +0.46