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Tuesday, April 13, 2010

UBS (NYSE:UBS) Downgrades Royal Gold (Nasdaq:RGLD)

Royal Gold Gets Downgraded

UBS (NYSE:UBS) announced it has made several estimates below consensus, with Royal Gold (Nasdaq:RGLD) bearing the brunt of it, being downgraded from "Buy" to "Neutral" based on the share price rising quickly.

Since mid-February when the share price of Royal Gold dropped below $13, it has rebounded strongly to close at over $17 a share today; a move considered to strong in the eyes of UBS.

Other companies UBS has estimated as below consensus are Gammon (NYSE:GRS), IAMGOLD (NYSE:IAG), Agnico-Eagle (NYSE:AEM), Coeur d'Alene Mines (NYSE:CDE) and Yamana (NYSE:AUY).

Major competitors for investor dollars for Royal Gold are Gammon and Harmony Gold Mining Co. (NYSE:HMY).

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