Franco-Nevada (FNV.TO) has kept its stock ratings and price targets at RBC Capital Markets and National Bank of Canada.
RBC said Tuesday that it maintained Franco-Nevada's Sector Perform rating and US$160 price target as the company hosted an investor day in Toronto.
According to RBC, the presentation provided a review of Franco-Nevada's business model, recent
Cobre Panama developments, and growth via long-term asset optionality.
During the event, Franco-Nevada also emphasized its objective to earn a high return on capital via careful asset selection and maintaining optionality.
National Bank of Canada on Wednesday also kept Franco-Nevada's Sector Perform rating and C$215 price target. It said the price target remains based on multiples of 2.20x NAV (33%) + 28.0x EV/2025E CF (67%).
The bank said the Sector Perform rating offsets the company's "stable five-year production outlook and industry-leading financial strength with its premium valuation, which currently incorporates long-term recoverable value from Cobre Panama as well as a competitive deal environment for new royalty/stream origination." National expects FNV has an opportunity to utilize its strong balance sheet, valuation and cash flows to consolidate several royalty & streaming peers throughout the coming years.
According to the bank, FNV's investor day provided additional context on previously released information and reaffirmed its outlook based on the company's 2025 and long-term guidance.
FNV's share price was down 1% to $220.20 on the TSX.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。