Scotiabank analyst Tanya Jakusconek downgraded OR Royalties (OR) to Sector Perform from Outperform with a price target of $41, up from $33. The firm cites valuation for the downgrade. OR also has less sensitivity to higher gold prices relative to others in the minerals group, the analyst tells investors in a research note. Operators are preferred to streamers at this point, contends Scotiabank.
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