TD Newcrest Downgrades Franco Nev Corp (FNV) to Hold; Risking Our NAV for First Uranium Challenges

TD Newcrest downgraded Franco Nev Corp (NYSE: FNV) from Buy to Hold, price target lowered from C$47 to C$45.

TD analyst says, "We continue to like Franco’s business model. Its royalty and revenue stream revenues are generally protected from capital and operating cost inflation, and this has been recognized by investors over the past several quarters with very strong share price performance. However, with the share price now in line with our revised target price and the potential that revenue could be negatively affected by regulatory and production challenges at the MWS and Ezulwini operations, we see less potential for Franco share price to outperform its gold mining peers."

For more ratings news on Franco Nev Corp click here and for the rating history of Franco Nev Corp click here.

Shares of Franco Nev Corp closed at $45.20 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• JPMorgan Downgrades Limbach Holdings (LMB) to Underweight
• Morgan Stanley Downgrades oOh!media (OML:AU) to Equalweight
• JPMorgan Downgrades Kuaishou Technology (1024:HK) to Neutral