Franco-Nevada (NYSE:FNV) PT Raised to $137.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target raised by research analysts at Jefferies Financial Group from $133.00 to $137.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 13.35% from the stock’s previous close.

A number of other analysts also recently issued reports on FNV. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. Scotiabank upped their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, HC Wainwright restated a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.88.

Franco-Nevada Price Performance

NYSE FNV opened at $120.86 on Friday. The stock has a market capitalization of $23.26 billion, a price-to-earnings ratio of -48.54, a PEG ratio of 21.28 and a beta of 0.76. The business’s fifty day moving average is $123.39 and its 200-day moving average is $122.31. Franco-Nevada has a one year low of $102.29 and a one year high of $142.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. During the same period in the prior year, the firm posted $0.95 EPS. The business’s revenue was down 21.2% on a year-over-year basis. Research analysts expect that Franco-Nevada will post 3.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FNV. Mechanics Financial Corp grew its position in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Franco-Nevada during the second quarter worth about $33,000. Kings Path Partners LLC bought a new position in shares of Franco-Nevada in the second quarter worth approximately $36,000. Fortis Group Advisors LLC raised its stake in Franco-Nevada by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 400 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Franco-Nevada

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.