Behind the Recent Ratings Changes for Royalty and Streaming Companies
Barclays reaffirmed its “equal weight” rating for Franco-Nevada (FNV) on July 13. It now has a target price of $72 for FNV stock.
In March 2017, TD Securities upgraded FNV to a “buy” from a “hold.” Apart from believing in FNV’s business model, TD’s analysts showed optimism toward the company’s production growth (GLD).
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Wheaton Precious Metals
In a report released on May 10, 2017, TD Securities reiterated its “buy” rating for WPM. On May 9, 2017, RBC had also reiterated its “buy” rating on WPM’s stock.
Other royalty and streaming companies
Macquarie downgraded Royal Gold’s (RGLD) stock from an “outperform” to a “neutral” rating on July 12, 2017.
BMO Capital Markets, on the other hand, reiterated its “buy” rating on RGLD stock on June 29, 2017. The firm now has a target price of $95 for the stock.
Raymond James also reaffirmed its “market perform” rating on Royal Gold on June 15, 2017. The firm now has a $88 target price for the stock.
CIBC (Canadian Imperial Bank of Commerce) lowered Sandstorm Gold (SAND) from “sector outperform” to “sector perform” rating on June 22, 2017. RBC Capital Markets upgraded SAND from “sector perform” to “outperform” on July 10.