Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, July 12th. The brokerage presently has a $80.00 price target on the basic materials company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 3.03% from the stock’s current price.
According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “
A number of other analysts have also recently commented on FNV. Barclays PLC reissued an “equal weight” rating and set a $74.00 target price (up previously from $68.00) on shares of Franco-Nevada Corporation in a research note on Tuesday, June 6th. Deutsche Bank AG reissued a “hold” rating and set a $64.00 target price (down previously from $65.00) on shares of Franco-Nevada Corporation in a research note on Sunday, June 25th. ValuEngine raised shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of Franco-Nevada Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Finally, Credit Suisse Group set a $80.00 price objective on shares of Franco-Nevada Corporation and gave the company a “buy” rating in a research note on Wednesday, June 14th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $78.89.
Shares of Franco-Nevada Corporation (NYSE FNV) opened at 77.65 on Wednesday. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $79.17. The firm has a market cap of $14.16 billion, a PE ratio of 99.55 and a beta of -0.03. The stock has a 50 day moving average price of $72.77 and a 200 day moving average price of $69.18.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The company had revenue of $163.60 million during the quarter, compared to analysts’ expectations of $164.62 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts expect that Franco-Nevada Corporation will post $0.98 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the company. Hexavest Inc. increased its stake in shares of Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after buying an additional 559 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Franco-Nevada Corporation by 224.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,353 shares of the basic materials company’s stock valued at $199,000 after buying an additional 2,320 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Franco-Nevada Corporation during the first quarter valued at $201,000. Blair William & Co. IL acquired a new stake in shares of Franco-Nevada Corporation during the second quarter valued at $210,000. Finally, Schroder Investment Management Group acquired a new stake in shares of Franco-Nevada Corporation during the first quarter valued at $222,000. Hedge funds and other institutional investors own 63.49% of the company’s stock.
About Franco-Nevada Corporation
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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