H.C. Wainwright raised the firm’s price target on Franco-Nevada (FNV) to $195 from $180 and keeps a Buy rating on the shares after the company announced an agreement to acquire an existing royalty package on the Cote Gold Mine in Ontario for a total of about $1.05B. The economic benefits from the royalty to Franco-Nevada are to start as of the earlier of closing or July 1, the analyst tells investors in a research note.
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