Raymond James analyst Brian MacArthur raised the firm’s price target on Franco-Nevada (FNV) to $186 from $184 and keeps an Outperform rating on the shares after the company announced an agreement to acquire an existing royalty package on the Cote Gold Mine in Ontario for total cash consideration of $1.05B. Franco-Nevada has a strong balance sheet to finance potential future deals and support its dividend, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FNV:
- Franco-Nevada’s Hold Rating: Balancing Acquisition Impact and Premium Valuation
- Franco-Nevada price target raised to $195 from $180 at H.C. Wainwright
- NEM, FNV, and WPM Primed for Gold Rush 2.0 as Geopolitics Fuel Hard Asset Boom
- Franco-Nevada Acquires Royalty on Ontario’s Côté Gold Mine
- Franco-Nevada to acquire royalty package on Cote Gold Mine in Ontario for $1.05B