BMO Capital reinstated coverage of Franco-Nevada (FNV) with an Outperform rating and C$260 price target The company offers optionality to great geology with a large and diverse portfolio of royalties and streams, and at the current high gold prices, the firm expects to increasingly see projects coming to light in Franco-Nevada’s extensive asset holdings, the analyst tells investors in a research note. The company also has several assets ramping this year including TZ, Greenstone and Salares Norte, and could add materially more exposure to gold if Cobre Panama comes back into operation, BMO adds.
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