Franco-Nevada (NYSE:FNV) Stock Price Expected to Rise, HC Wainwright Analyst Says

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price hoisted by HC Wainwright from $285.00 to $305.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s target price would indicate a potential upside of 14.90% from the stock’s current price.

A number of other research analysts also recently weighed in on FNV. Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $228.00 price objective on shares of Franco-Nevada in a report on Sunday, December 7th. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. Finally, Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $256.88.

Franco-Nevada Trading Up 1.1%

FNV stock opened at $265.45 on Thursday. The firm has a market cap of $51.18 billion, a PE ratio of 46.08, a PEG ratio of 3.49 and a beta of 0.45. Franco-Nevada has a 1 year low of $140.03 and a 1 year high of $285.67. The company has a fifty day simple moving average of $248.77 and a 200 day simple moving average of $218.52.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.18. Franco-Nevada had a return on equity of 16.22% and a net margin of 61.01%.The company had revenue of $597.30 million for the quarter, compared to analyst estimates of $542.02 million. During the same period last year, the company earned $0.95 earnings per share. The business’s revenue was up 86.1% compared to the same quarter last year. As a group, analysts forecast that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FNV. Vanguard Group Inc. grew its position in Franco-Nevada by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock worth $1,726,741,000 after buying an additional 113,916 shares in the last quarter. Van ECK Associates Corp raised its holdings in Franco-Nevada by 12.8% in the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after acquiring an additional 842,132 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Franco-Nevada by 8.9% in the 3rd quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock worth $1,237,510,000 after acquiring an additional 454,175 shares during the period. First Eagle Investment Management LLC increased its position in shares of Franco-Nevada by 26.5% during the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after purchasing an additional 1,074,257 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Franco-Nevada by 35.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after purchasing an additional 838,853 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.