Royal Gold to Acquire Sandstorm Gold Royalties and Horizon Copper, Creating Leading Streaming and Royalty Company

Noble Capital analyst Michael Kupinski has lowered the price target on Xcel Brands (XELB) to $9 from $12 and maintains an Outperform rating. The company plans to sell 1.381M shares on a "best efforts" basis and pre-funded warrants, which will improve the balance sheet and allow for investment in developing brands. However, there will be "significant dilution" from the share offering.