Jefferies raised the firm’s price target on Royal Gold to $270 from $261 and keeps a Buy rating on the shares as part of a 2026 preview for the metals and mining group. The firm remains bullish on gold equities, citing attractive valuations, but now more cautious on copper stocks given valuations heading into next year. Jefferies expects gold companies to expand margins and produce more free cash flow in 2026 versus 2025. The longer gold prices remain elevated, the more investor attention will turn to growth, the analyst tells investors in a research note. Its top gold picks are Barrick Mining (B), Alamos Gold (AG) and Royal Gold (RGLD). The firm’s top copper picks is Hudbay (HBM).
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RGLD:
- Royal Gold price target raised to $205 from $203 at BofA
- Royal Gold price target lowered to $203 from $205 at BofA
- Royal Gold’s Strong Business Model and Financial Health Justify Buy Rating
- Royal Gold raises annual dividend roughly 6% to $1.90 per share
- Royal Gold price target raised to $263 from $261 at TD Cowen