Chris Mancini, CFA is a research analyst with Gabelli & Company covering Basic Metals & Mining. He discusses Royal Gold (RGLD, Financial) in the video below.
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A Buy rated stock is one that in our view is trading at a meaningful discount to our estimated PMV. We could expect a more modest private market value to increase at an accelerated pace, the discount of the public stock price to PMV to narrow through the emergence of a catalyst, or some combination of the two to occur.
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Unless otherwise noted, all stock prices reflect the closing price on the business day immediately prior to the date of this video. We do not use "price targets" predicting future stock performance. We do refer to "private market value" or PMV, which is the price that we believe an informed buyer would pay to acquire 100% of a company. There is no assurance that there are any willing buyers of a company at this price and we do not intend to suggest that any acquisition is likely. Additional information is available on request.
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No part of the research analyst compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research video. In addition, the undersigned lead analyst(s) has not received any compensation from the subject company in the previous 12 months.
As of May 31, 2016 our affiliates beneficially own on behalf of their investment advisory clients or otherwise 1.36% of Royal Gold, 1.14% of Centerra Gold and less than 1% of all other companies mentioned.
The analyst, who prepared this video, or members of his household, own 200 shares of Centerra Gold, 60 shares of Franco Nevada and 60 shares of Royal Gold.
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