Franco-Nevada Corporation (NYSE:FNV) is one of the most profitable gold stocks to buy right now. On July 25, CIBC analyst Cosmos Chiu maintained a Buy rating on Franco-Nevada Corporation (NYSE:FNV) and set a price target of C$315.00.
An aerial view of a large gold mine showing the extensive activity of natural resource extraction.
The rating followed the company’s July 23rd announcement of the acquisition of an existing 1.0% net smelter return royalty on AngloGold Ashanti plc’s Arthur Gold Project from Altius Minerals Corporation. The transaction was worth $250 million in cash, along with a contingent cash payment of $25 million, subject to the attainment of certain conditions.
Management reported that the Arthur Gold Project is one of the fastest-growing and largest new gold discoveries in the US.
Franco-Nevada Corporation manages a gold-focused royalties and streams portfolio. The company provides investors with gold price and exploration optionality while reducing exposure to many of the risks associated with operating companies.
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This article is originally published at Insider Monkey.
