Latest Reports on Franco Nevada, Northern Blizzard Resources, Parex Resources, and Yamana Gold

NEW YORK, NY / ACCESSWIRE / September 12, 2016 / North American markets posted sharp declines Friday as signs began to emerge that central banks could shy away from easy-money policies. The S&P/TSX Composite Index declined 1.78 percent to close at 14,539.88, while the S&P/TSX Venture Composite Index fell 1.63 percent to close at 812.17. The energy and mining stocks experienced sharp declines as commodity prices slipped. The Energy and Materials sector posted declines of 3.01 percent and 3.62 percent, respectively.

The S&P 500 Index fell 2.45 percent to close at 2,127.81. Federal Reserve President Eric Rosengren said “risks to the forecast are becoming increasingly two-sided,” hinting that slowdowns in economies still remain a concern and that the tightening of interest rates may be needed to avoid overheating the economy.

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Franco Nevada Corp. (TSX: FNV)

Get Your Up-To-Date Franco Nevada Research Report at www.rdinvesting.com/company/FNV

Franco Nevada’s shares declined 4.29 percent to close at $71.68 a share Friday. The stock traded between $71.52 and $74.52 on volume of 849,062 shares traded. Deutsche Bank analyst Jorge Beristain has recently upgraded his rating on the co006Dpany to “hold” from “sell”. Beristain has also raised his target to $74 (US) from $62 (US). Consensus of analysts has average rating of “hold” on this stock. Shares of Franco Nevada have gained approximately 56.7 percent year-to-date, but have fallen roughly 8.8 percent in the past month.

Northern Blizzard Resources Inc. (TSX: NBZ)

Get Your Up-To-Date Northern Blizzard Research Report at www.rdinvesting.com/company/NBZ

Northern Blizzard Resources’ shares fell 5.18 percent to close at C$4.03 a share Friday. The stock traded between C$4.00 and C$4.17 on volume of 217,751 shares traded. BMO Nesbitt Burns analyst Ray Kwan has recently initiated coverage on the company with an “underperform” rating. “Northern Blizzard is nearly 94-95 per cent exposed to medium/heavy oil crude and its products are priced near the Western Canadian Select (WCS) benchmark,” said Kwan. Shares of Northern Blizzard Resources have gained approximately 1.8 percent year-to-date, but have fallen roughly 12.4 percent in the past month.

Parex Resources Inc. (TSX: PXT)

Get Your Up-To-Date Crescent Point Energy Research Report at www.rdinvesting.com/company/CPG

Parex Resources’ shares fell 4.04 percent to close at C$16.39 a share Friday. The stock traded between C$16.17 and C$17.00 on volume of 355,660 shares traded. On September 8th, the company announced plans to accelerate its drilling program. Canaccord Genuity analyst Kimberly Hedlin raised her price target on the stock to o $20 from $17. Consensus of analysts has average rating as “outperform” on this stock. Shares of Parex Resources have gained approximately 61.3 percent year-to-date and are up roughly 6.8 percent in the past month.

Yamana Gold Inc. (TSX: YRI)

Get Your Up-To-Date Yamana Gold Research Report at www.rdinvesting.com/company/YRI

Yamana Gold’s shares fell 5.44 percent to close at C$5.74 a share Friday. The stock traded between C$5.73 and C$6.01 on volume 6.24 million shares traded. Canaccord Genuity analyst Tony Lesiak has recently called Yamana Gold a “top performer” in 2016. Lesiak has maintained a “buy” rating on the stock, but has recently raised his price target on the company to $10.50 from $10.00. Yamana Gold has an analyst consensus of “Hold”. Shares of Yamana Gold have gained approximately 123.4 percent year-to-date, but have fallen roughly 22.1 percent in the past month.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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