Royal Gold, Inc. (RGLD) Price Objective Lowered

Analysts at Bank of America Merrill Lynch have lowered the price objective for Royal Gold, Inc. (NASDAQ: RGLD). The price objective has been lowered from $57 to $54.75.

The company has reported revenue of $60.8 million for the first half of FY10. The company reported EPS of $0.41 for the first half of FY10.

Analysts have raised the 2010 EPS forecast from $0.80 to $0.87, which is attributed to several factors including higher-than-expected revenue from the Taparko and Pipeline royalties.

The 2010 forecasts do not include any revenue from the Andacollo revenue stream. Analysts have maintained a Neutral rating for Royal Gold, Inc.