Royal Gold's Growth Remains 'Modest,' Says Bullish Analyst: 'This Could Change'
Portfolio Pulse from Priya Nigam
Royal Gold Inc (NASDAQ:RGLD) received an upgrade from BMO Capital Markets from Market Perform to Outperform with a price target increase from $148 to $158, following a slight underperformance. The upgrade is based on a more compelling valuation given current commodity prices and the potential for growth through new stream and royalty deals, asset quality improvements, and possible M&A activities. Shares of Royal Gold rose by 6.24% to $116.93.

March 27, 2024 | 3:53 pm
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POSITIVE IMPACT
Royal Gold Inc was upgraded by BMO Capital from Market Perform to Outperform with a new price target of $158, indicating a bullish outlook based on valuation and growth potential.
The upgrade by BMO Capital Markets is significant as it reflects a positive reassessment of Royal Gold's valuation and growth prospects. The increase in the price target to $158 suggests a strong confidence in the company's future performance, particularly in its ability to secure new stream and royalty deals, improve asset quality, and potentially engage in M&A activities. The stock's rise by 6.24% following the announcement further supports the positive short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100