TD Securities Upgrades Franco Nev Corp (FNV) to Buy
TD Securities upgraded Franco Nev Corp (NYSE: FNV) from Hold to Buy with a price target of C$67.00.
The firm comments, "The acquisition of the Weyburn NRI should not come as a surprise – for some months, David Harquail, Franco’s CEO, has suggested that a non-precious metals royalty acquisition could be a possibility, particularly with precious metals representing +90% of total revenue. Franco management expects the Weyburn NRI acquisition to close by the end of November and be immediately accretive to revenue, cash flow and earnings."
For an analyst ratings summary and ratings history on Franco Nev Corp click here. For more ratings news on Franco Nev Corp click here.
Shares of Franco Nev Corp closed at $56.47 yesterday, with a 52 week range of $36.50-$61.60.
The firm comments, "The acquisition of the Weyburn NRI should not come as a surprise – for some months, David Harquail, Franco’s CEO, has suggested that a non-precious metals royalty acquisition could be a possibility, particularly with precious metals representing +90% of total revenue. Franco management expects the Weyburn NRI acquisition to close by the end of November and be immediately accretive to revenue, cash flow and earnings."
For an analyst ratings summary and ratings history on Franco Nev Corp click here. For more ratings news on Franco Nev Corp click here.
Shares of Franco Nev Corp closed at $56.47 yesterday, with a 52 week range of $36.50-$61.60.