Franco-Nevada (NYSE:FNV) Price Target Raised to $169.00

by · The Cerbat Gem

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) had its price objective boosted by equities research analysts at Scotiabank from $165.00 to $169.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective points to a potential upside of 6.21% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, April 7th. UBS Group upped their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 11th. National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a report on Wednesday, April 23rd. HC Wainwright increased their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. Finally, Raymond James increased their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.75.

Read Our Latest Stock Analysis on FNV

Franco-Nevada Stock Performance

FNV stock traded down $10.12 during mid-day trading on Monday, reaching $159.11. 523,440 shares of the stock traded hands, compared to its average volume of 714,144. Franco-Nevada has a one year low of $112.70 and a one year high of $178.74. The stock has a market capitalization of $30.64 billion, a PE ratio of -50.40, a PEG ratio of 9.78 and a beta of 0.45. The business has a 50-day moving average price of $159.01 and a two-hundred day moving average price of $138.87.

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last posted its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The firm had revenue of $368.40 million for the quarter, compared to analysts’ expectations of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share. On average, equities analysts expect that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in shares of Franco-Nevada by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock valued at $1,923,400,000 after purchasing an additional 207,232 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Franco-Nevada by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after purchasing an additional 193,968 shares during the last quarter. Capital World Investors raised its position in Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock worth $934,106,000 after buying an additional 711,591 shares during the last quarter. Vanguard Group Inc. raised its position in Franco-Nevada by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company’s stock worth $1,233,891,000 after buying an additional 45,924 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Franco-Nevada by 0.3% during the 4th quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company’s stock worth $622,124,000 after buying an additional 15,273 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Company Profile

(Get Free Report)

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.

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