RBC Capital analyst Josh Wolfson lowered the firm's price target on OR Royalties to $45 from $50 and keeps an Outperform rating on the shares as part of a broader research note previewing Q2 results among gold miners. The firm anticipates a mixed Q2 reporting season, highlighted by tough sequential comps on margin compression from declining gold and silver prices as well as rising costs, the analyst tells investors in a research note. The quarter will also feature an "abnormal" volume of corporate and project updates that could add to volatility, RBC added. The firm states however that despite these uncertainties, gold producers remain in a position of strength, returning record capital and still reaping near record margins.
