Royal Gold price target lowered to $138 from $140 at BofA

BofA lowered the firm’s price target on Royal Gold (RGLD) to $138 from $140 and keeps an Underperform rating on the shares. The firm updated its model for reported Q4 results, Q1 streaming segment sales guidance of 40-45 thousand gold equivalent ounces, and the acquisition of the 2.5% net smelter return royalty on Arizona Sonoran’s Cactus Project.