Chef remote_file giving permissions denied error

I am using remote_file resource in the following way:

remote_file "/usr/local/bin/binaryname" do
  source "URL for Binaryname"
  owner 'root'
  group 'root'
  mode '0755'
  not_if { File.file?("/usr/local/bin/binaryname") }
end

I am getting permmision denied error even after doing mode '0755'

STDERR: /tmp/chef-script20160505-33836-e6w0pc: line 1: /usr/local/bin/binaryname: Permission denied