Franco-Nevada price target raised to $140 from $139 at Scotiabank

Scotiabank raised the firm’s price target on Franco-Nevada to $140 from $139 and keeps a Sector Perform rating on the shares. The Gold & Precious Minerals sector will soon be reporting Q1 results, which the firm notes it does not expect margins to increase quarter-over-quarter or year-over-year based on the average quarterly prices, the analyst tells investors. The firm is expecting Q1 to be the weakest quarter in FY24 for the sector.