0958 ET - Franco-Nevada's Cobre Panama stream is a big question mark overhanging Franco-Nevada's value. In a TD Cowen report, Derick Ma says that the Panama mine's potential restart is already being priced into Franco-Nevada's stock, which is up 23% year-to-date. However, Ma says there is a risk that a restart could take longer than expected, and Franco-Nevada's gold stream "could negatively be impacted by the negotiations and macro uncertainties [that] could lead to headwinds for energy and iron ore." TD Cowen cuts its rating on Franco-Nevada to hold from buy. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 09:58 ET (13:58 GMT)
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