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.
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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
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- 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