Royal Gold (RGLD) PT Raised to $197 at BMO Capital

BMO Capital analyst Matthew Murphy raised the price target on Royal Gold (NASDAQ: RGLD) to $197.00 (from $196.00) while maintaining a Market Perform rating.

The analyst commented: "Good IRR on Warintza Deal, and a Royalty That Scales With Timeline Delays; We see the $200M RGLD stream and royalty to help fund Warintza to a final investment decision (anticipated late 2026) as a decent deal for RGLD. We estimate a ~7% IRR at BMO gold prices and ~10% at spot. Warintza remains an early-stage project but the royalty scales with timeline delays. The stream has mutual termination provisions with full repayment, while the NSR is permanent. We add the stream to our RGLD model, which increases our target price by $1 to $197."

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