TD Securities analyst Greg Barnes lowered the firm’s price target on Franco-Nevada to $125 from $135 and keeps a Hold rating on the shares. The analyst reduced 2024 estimates to reflect the closure of the Cobre Panama mine until Q4 of 2024. The firm is assuming there will be little progress towards discussions about the future of the mine and a new law governing the mine’s operations until after the Panamanian general election in May 2024.
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