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RBC Capital Markets Says Franco-Nevada Optimistic About Cobre Panama Restart
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RBC Capital Markets Says Franco-Nevada Optimistic About Cobre Panama Restart
Mar 11, 2024 7:54 AM

10:42 AM EDT, 03/11/2024 (MT Newswires) -- RBC Capital Markets said Monday that Franco-Nevada Corp. ( FNV ) remains optimistic about the potential restart of First Quantum Minerals Ltd. ( FQVLF ) 's Cobre Panama mine following a government-ordered shutdown.

Franco-Nevada ( FNV ) said the mine previously received government support while noting its economic importance to Panama.

However, Franco-Nevada ( FNV ) said "considerable effort is still needed to dispel disinformation across the population about the mine."

Franco-Nevada ( FNV ) recorded a $1.2 billion impairment on Cobre Panama following its closure.

RBC gave Franco-Nevada ( FNV ) a sector perform rating with a US$135.00 price target.

Price: 153.32, Change: -1.90, Percent Change: -1.22

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