UPDATE: MLV & Co Downgrades Royal Gold as Stock is Fairly Valued at Current Levels

In a report published Wednesday, MLV & Co analyst Michael D. Peterson downgraded the rating on Royal Gold RGLD from Buy to Hold, and removed the $65.00 price target. In the report, MLV & Co noted, “Year-to-date performance of Royal Gold has meaningfully outpaced that of gold, the company's primary revenue source. RGLD shares have not only outperformed our benchmark (the FTSE Mines Index) by 16.5% YTD, they have also outperformed precious metals royalty peers FNV (+4.2%) and SLW (+16.3%), as well as spot gold prices (+24.4%). We continue to regard Royal Gold as well positioned during a very difficult period for precious metals producers; however, YTD stock performance more than offsets this relative advantage, leaving RGLD shares fairly valued at current levels, in our assessment.” Royal Gold closed on Tuesday at $65.95.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesAnalyst RatingsMichael D. PetersonMLV & Co
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!