Jefferies Raise Franco-Nevada (FNV) PT, Keeps Hold Rating
This adjustment came after a detailed review of Franco-Nevada Corporation's (NYSE:FNV) recent $1 billion acquisition of the Cote Gold royalty and other factors that could affect the company's financial model.
An aerial view of a large gold mine showing the extensive activity of natural resource extraction.
The analyst pointed out that investors responded positively to the Cote Gold acquisition because of its large size. Deals of this size are rare in the royalty or streaming business. Additionally, the deal is generating cash flow and there is potential for exploration and throughput increases in the future.
However, the feedback for investors did bring about some concerns about the cost of this deal. LaFemina's analysis of net present value (NPV) and internal rate of return (IRR) suggests that Franco-Nevada Corporation (NYSE:FNV) may have paid too much for this deal.
Franco-Nevada Corporation (NYSE:FNV) is a leading gold-focused royalty and streaming company that is based in Canada.
While we acknowledge the potential of FNV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds.
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Associated Press
25 minutes ago
- Associated Press
Formation Metals Expands Maiden Drill Program at the Advanced N2 Gold Project to Fully Funded 7,500 Metres
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Highlights: VANCOUVER, BC / ACCESS Newswire / July 6, 2025 / Formation Metals Inc. ('Formation' or the 'Company') (CSE:FOMO)(FSE:VF1)(OTCPK:FOMTF), a North American mineral acquisition and exploration company, is pleased to announce that it has elected to expand its maiden drill program at its N2 Gold Property ('N2" or the 'Property'), located 25 km south of Matagami, Quebec, to a fully funded 7,500 metres. The Company anticipates commencing on the program in July, having officially filed its Annual Exploration Work Notice ('Planification Annuelle Des Travaux d'Exploration') with the responsible municipal authorities for its upcoming 2025 exploration activities on June 17, 2025. This filing must be completed 30-days in advance of the commencement of fieldwork and ensures compliance with regulatory requirements and reflects the Company's continued commitment to transparency, community engagement, and responsible mineral exploration practices. The work program will focus on advancing key targets across Formation's Quebec-based properties. The 7,500 metres comprising Phase 1 is part of its planned 20,000 metre multi-phase drill program at N2, an advanced gold project with a global historic resource of ~870,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4. 'We are very excited to commence our maiden drill program at N2" said Deepak Varshney, Chief Executive Officer of Formation. 'Filing the Annual Exploration Work Notice marked the final regulatory step as we prepare to commence field activities upon receipt of the ATI. Based on our on-going review and planning for Phase 1, we feel comfortable in expanding our maiden drill program to a fully funded 7,500 metres. We anticipate receiving the ATI permit shortly, allowing us to proceed with our exploration activities as scheduled.' Mr. Varshney continued: 'The summer is going to be a very exciting time as we embark on our fully funded maiden 7,500 metre drill program at N2. Given the scale of the property, the compelling geological data, and the Abitibi Greenstone Belt's established history as a hotbed for gold mining, we are hopeful that the program will deliver our goal of delivering a near-surface multi-million-ounce deposit at N2. We see the potential for a significant gold deposit at N2, and our maiden 7,500-metre drilling program will mark the beginning of Formation's pursuit of that goal. Our maiden program will focus on building on the successes of our predecessors. The drilling discoveries made by Agnico-Eagle and Cypress show the potential at N2. With gold at almost $3,400, over 4 times the price in 2008 when Agnico last drilled the project, we believe that the timing is perfect for N2 and look forward to a very busy upcoming quarter.' The drill program is designed to focus on discovery drilling at new high-potential targets along the mineralization strikes at the 'A', 'RJ' and 'Central' zones in the northern part of the Property in order to discover new auriferous trends and unlock new zones of gold mineralization. The program will also focus on high-priority infilling and expansion targets in these zones to significantly enhance the auriferous zones identified to-date (Figure 1). Historical highlights from the top two priority zones include: The Company has retained Strategy Exploration Advisors ('Stratexplo'), an independent exploration consulting firm based out of Rouyn-Noranda, Québec, as the field operations manager for its planned 20,000 metre multi-phase drill program. Stratexplo crews will be responsible for conducting surface exploration at N2, including field logistics, sample collection and dispatch, geological mapping and interpretation, exploration targeting and advising as per National Instrument 43-101 collection and reporting guidelines. These responsibilities are in addition to Stratexplo's on-going work as the Company's permitting manager, where they recently facilitated Formation's submission for its Application for Autorisation de Travaux d'exploration à Impacts (ATI) to the Ministère des Ressources naturelles et des Forets (MERN), and were responsible for the submission of its Planification Annuelle Des Travaux d'Exploration. The ATI submission was completed following discussions with all necessary parties and the Company anticipates receiving its ATI permit within the coming weeks, after which it intends on commencing its maiden drill program at N2. Comprising 87 claims totaling ~4,400 ha within the Abitibi sub province of Northwestern Quebec, Formation's flagship N2 Gold Project is an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone2,4. There are six primary auriferous mineralized zones in total, each open for expansion along strike and at depth. Compilation and geophysical work by Balmoral Resources Ltd. (now Wallbridge Mining) from 2010 to 2018 generated numerous targets that have not yet been investigated with diamond drilling. There are two primary focuses for Formation: The Company also believes that N2 has significant base metal potential, where it recently completed a revaluation process which revealed significant copper and zinc intercepts within historic drillholes known to have significant gold grades (>1 g/t Au). Assay results range from 200 to 4,750 ppm and 203 ppm to 6,700 ppm, for copper and zinc, respectively, indicating strong potential for elevated base metal (Cu-Zn) concentrations across the property, specifically at the A and RJ zones. Property wide geology at N2 features volcanic and sedimentary rocks formed in regional anticlinal and synclinal flexures. Three principal deformation structures (Figure 1), oriented along the known NW-SE to WNW-ESE structural trends typical of VMS deposits in the Matagami region, function as critical geologic controls for mineralization on the property. For the 2025 exploration season, Formation plans to concentrate its efforts on the northern part of N2, targeting gold deposit expansion and discovery along identified zones and fault systems associated with the main deformation features (specifically WNW-ESE trend), with IP surveys and drilling planned to model mineralized zones that will hopefully contribute to an updated NI-43 101 compliant resource. Formation will also look to further review historic base metal assays from older drill core and undertake additional work in 2025 to assess the property's copper and zinc potential. The Company is also pleased to announce a non-brokered listed issuer financing exemption (LIFE) private placement (the 'LIFEOffering') for up to 2,200,000 charitable flow-through units ('CFT Units') of the Company at $0.50 per CFT Unit, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions ('NI 45-106"), for gross proceeds of up to $1,100,000. Each CFT Unit will be comprised of one common share in the capital of the Company (a 'LIFECFT Share') and one common share purchase warrant (a 'LIFEWarrant'). Each LIFE Warrant will be exercisable to acquire one additional common share of the Company at an exercise price of $0.60 for a period of 24 months from the date of closing. Each LIFE CFT Share will qualify as a 'flow-through share' within the meaning of subsection 66(15) of the Income Tax Act (Canada). The LIFE CFT Units will be sold on a structured basis whereby the Company will issue the LIFE CFT Shares and LIFE Warrants comprising the LIFE CFT Units to purchasers purchasing as principals and/or to an agent for one or more disclosed principals; the LIFE CFT Shares and LIFE Warrants comprising the LIFE CFT Units will then immediately be sold to one or more back-end buyers. The LIFE CFT Units issued pursuant to the LIFE Offering will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document (the 'Offering Document') relating to the LIFE Offering that can be accessed under the Company's profile at and on the Company's website ( ). Prospective investors in the LIFE Offering should read the Offering Document before making an investment decision. Concurrent with the LIFE Offering, the Company is completing a non-brokered private placement (the 'CFT 4MH Unit Offering' and, together with the LIFE Offering, the 'Offerings') of up to 2,298,850 units (each a 'CFT 4MH Unit') of the Company at $0.435 per CFT 4MH Unit, for gross proceeds of up to $1,000,000. Each CFT 4MHUnit will be comprised of one common share in the capital of the Company (a 'CFT 4MH Share') and one common share purchase warrant (a 'CFT 4MH Warrant'). Each CFT 4MH Warrant will be exercisable to acquire one additional common share of the Company at an exercise price of $0.60 for a period of 24 months from the date of closing. Each CFT 4MH Share will qualify as a 'flow-through share' within the meaning of subsection 66(15) of the Income Tax Act (Canada). The CFT 4MH Units will be sold on a structured basis whereby the Company will issue the CFT 4MH Shares and CFT 4MH Warrants comprising the CFT 4MH Units to purchasers purchasing as principals and/or to an agent for one or more disclosed principals; the CFT 4MH Shares and CFT 4MH Warrants comprising the CFT 4MH Units will then immediately be sold to one or more back-end buyers. All securities issued in connection with the CFT 4MH Unit Offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. Closing of the Offerings may take place in one or more tranches as determined by the Company and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval of the Canadian Securities Exchange. The Company may pay certain eligible finders a cash fee of up to 7% of the gross proceeds raised in respect of the Offerings from subscribers introduced by such finders to the Company. The Company may also issue to eligible finders such number of finder warrants (each, a 'Finder Warrant') as is equal to 7% of the number of LIFE Units or CFT 4MH Units sold under the Offerings to subscribers introduced by such finders to the Company. The Finder Warrants, to the extent they are issued, will entitle the holders thereof to acquire one (1) common share of the Company at a price of $0.60 per Share for a period of 24 months from the date of issuance. The Company intends to use the net proceeds of the Offerings for fieldwork at the Company's exploration projects and, in the case of the net proceeds from the LIFE Offering, as more particularly set out in the Offering Document. Qualified person The technical content of this news release has been reviewed and approved by Mr. Babak Vakili Azar, an independent contractor and a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionor were reviewed by the qualified person. The information provided has not been verified and is being treated as historic. About Formation Metals Inc. Formation Metals Inc. is a North American mineral acquisition and exploration company focused on the development of quality properties that are drill-ready with high-upside and expansion potential. Formation's flagship asset is the N2 Gold Project, an advanced gold project with a global historic resource of ~870,000 ounces (18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4) and six mineralized zones, each open for expansion along strike and at depth including the 'A' zone, of which only ~35% of strike has been drilled (>3.1 km open), and the 'RJ' zone, host to historical high-grade intercepts as high as 51 g/t Au over 0.8 metres. FORMATION METALS INC. Deepak Varshney, CEO and Director For more information, please call 778-899-1780, email [email protected] or visit Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Notes and References: Forward-looking statements: This news release includes 'forward-looking statements' under applicable Canadian securities legislation, including statements respecting: the Company's plans for the Property and the expected timing and scope of the 2025 drilling program at the Property; the Company's goal of delivering a near-surface multi-million-ounce deposit the Property; the Company's anticipated timeline with respect to the Application for Autorisation de Travaux d'exploration à Impacts (ATI) to the Ministère des Ressources naturelles et des Forets (MERN); the Company's view that the Property has the potential for over three million ounces of gold; the 7,500-metre drilling program marking the beginning of the Company's pursuit of that goal; and statements respecting the Offerings and the expected use of proceeds therefrom. Such forward-looking information reflects management's current beliefs and is based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned that such forward-looking statements are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. No Offer or Solicitation to Purchase Securities in the United States This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act ('Regulation S'), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of, persons in the United States or U.S. Persons nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. SOURCE: Formation Metals press release
Yahoo
38 minutes ago
- Yahoo
Here's how a £20k ISA could earn £1,400 in passive income next year
Rather than setting up a side hustle to try and generate a second income, some people take the approach of making money from a business that is already well-established – and that they do not have to do any work for. Stuffing a Stocks and Shares ISA full of dividend shares in blue-chip FTSE 100 firms is one way to do that. It can be quite lucrative too. Here is how a £20k ISA could earn £1,400 in passive income annually. The £1,400 number is easy to figure out. It is based on an average dividend yield of 7%. Dividend yield is the amount an investor receives in dividends each year from some shares, expressed as a percentage of what they paid for them. Seven percent is almost double the current FTSE 100 average yield. But I think it is achievable in today's market while sticking to carefully-chosen blue-chip shares. Dividends are never guaranteed – even if a company has paid them in the past, it can stop doing so at any moment. So it is important to choose carefully when selecting what shares to buy. As well as that, an investor can reduce risk by diversifying across different shares. Twenty grand is ample for that. Given that no dividend is guaranteed, how might investors go about finding shares to buy for their ISA? To pay dividends over the long run, a business needs to generate more free cash flow than it requires for its business. So when passive income is my goal, I tend to look for a proven business with high cash generation capability and limited investment needs to grow or even maintain the business. One dividend share I think investors should consider is FTSE 100 insurer Aviva (LSE: AV). It was already the country's largest insurer even before last week's completion of its takeover of rival Direct Line. That ought to add still more economies of scale to the business, as well as a famous brand. But I see a risk that integrating Direct Line could distract management attention from other tasks to keep the core business humming. Insurance is pretty straightforward in principle, but the devil is in the details. Aviva has deep underwriting experience and is focused on general insurance lines in markets it understands well. From a risk management perspective, that appeals to me. I also see appeal in the dividend yield. Aviva has been growing its dividend per share annually of late and currently yields 5.8%. Striking the right balance between reward and risk is important. Something else that affects the return an investor can make is how much of their dividend income gets swallowed up in fees, commissions, taxes and other charges. Each investor has their own financial priorities. So it makes sense to spend time comparing different Stocks and Shares ISAs on the market when deciding which one seems most suited to their individual needs. The post Here's how a £20k ISA could earn £1,400 in passive income next year – and every year appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool C Ruane has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Baader Bank Aktiengesellschaft (ETR:BWB) Will Pay A €0.13 Dividend In Four Days
Baader Bank Aktiengesellschaft (ETR:BWB) stock is about to trade ex-dividend in 4 days. Typically, the ex-dividend date is two business days before the record date, which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. In other words, investors can purchase Baader Bank's shares before the 11th of July in order to be eligible for the dividend, which will be paid on the 15th of July. The company's next dividend payment will be €0.13 per share. Last year, in total, the company distributed €0.20 to shareholders. Based on the last year's worth of payments, Baader Bank has a trailing yield of 4.2% on the current stock price of €4.78. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. Fortunately Baader Bank's payout ratio is modest, at just 42% of profit. When a company paid out less in dividends than it earned in profit, this generally suggests its dividend is affordable. The lower the % of its profit that it pays out, the greater the margin of safety for the dividend if the business enters a downturn. See our latest analysis for Baader Bank Click here to see how much of its profit Baader Bank paid out over the last 12 months. When earnings decline, dividend companies become much harder to analyse and own safely. Investors love dividends, so if earnings fall and the dividend is reduced, expect a stock to be sold off heavily at the same time. Readers will understand then, why we're concerned to see Baader Bank's earnings per share have dropped 19% a year over the past five years. When earnings per share fall, the maximum amount of dividends that can be paid also falls. The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Baader Bank's dividend payments per share have declined at 5.4% per year on average over the past four years, which is uninspiring. While it's not great that earnings and dividends per share have fallen in recent years, we're encouraged by the fact that management has trimmed the dividend rather than risk over-committing the company in a risky attempt to maintain yields to shareholders. Should investors buy Baader Bank for the upcoming dividend? Earnings per share have shrunk noticeably in recent years, although we like that the company has a low payout ratio. This could suggest a cut to the dividend may not be a major risk in the near future. It might be worth researching if the company is reinvesting in growth projects that could grow earnings and dividends in the future, but for now we're on the fence about its dividend prospects. However if you're still interested in Baader Bank as a potential investment, you should definitely consider some of the risks involved with Baader Bank. To help with this, we've discovered 2 warning signs for Baader Bank (1 can't be ignored!) that you ought to be aware of before buying the shares. Generally, we wouldn't recommend just buying the first dividend stock you see. Here's a curated list of interesting stocks that are strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
