Royal Gold upgraded to Outperform from Market Perform at BMO Capital

BMO Capital upgraded Royal Gold to Outperform from Market Perform with a price target of $158, up from $148. The stock’s valuation is now more compelling under BMO’s new commodity price assumptions and with the modest relative underperformance of Royal Gold year-to-date versus Franco-Nevada and Wheaton Precious Metals, the analyst tells investors in a research note. Th firm believes the royalty and streaming sector, including Royal Gold, should benefit from a positive environment for meaningful new stream and royalty deals through this year.