Uranium Royalty downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded Uranium Royalty (UROY) to Market Perform from Outperform with a price target of C$5, up from C$4.50. Royalty companies like Uranium Royalty offer diversified exposure to commodity prices, while mitigating downside risk given limited exposure to operating and capital costs, the analyst tells investors in a research note. While the firm continues to like Uranium Royalty’s exposure to uranium through the royalty model, as well as its growth profile, longer-term optionality, favorable jurisdictional risk, and strong balance sheet, the firm cites the current valuation for the downgrade.