Scotiabank Forecasts Strong Price Appreciation for Franco-Nevada (NYSE:FNV) Stock

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price lifted by equities researchers at Scotiabank from $286.00 to $290.00 in a research note issued on Thursday, MarketBeat reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price target would indicate a potential upside of 28.67% from the company’s previous close. Scotiabank also issued estimates for Franco-Nevada’s FY2026 earnings at $8.43 EPS.

A number of other research firms also recently issued reports on FNV. National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. UBS Group restated a “buy” rating and issued a $310.00 price target on shares of Franco-Nevada in a research report on Friday, January 30th. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, HC Wainwright restated a “buy” rating and issued a $305.00 price target on shares of Franco-Nevada in a research report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $257.75.

Franco-Nevada Price Performance

Shares of FNV stock opened at $225.39 on Thursday. The firm has a market cap of $43.47 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.07 and a beta of 0.34. Franco-Nevada has a 1-year low of $152.89 and a 1-year high of $285.67. The firm has a fifty day moving average of $245.94 and a two-hundred day moving average of $231.41.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same period last year, the business earned $1.07 EPS. The firm’s revenue for the quarter was up 76.6% compared to the same quarter last year. On average, sell-side analysts expect that Franco-Nevada will post 8.76 EPS for the current year.

Institutional Trading of Franco-Nevada

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Franco-Nevada in the 4th quarter worth approximately $578,577,000. First Eagle Investment Management LLC grew its stake in shares of Franco-Nevada by 26.5% in the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock worth $1,062,037,000 after purchasing an additional 1,074,257 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Franco-Nevada by 76.0% in the 3rd quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock worth $525,925,000 after purchasing an additional 1,020,509 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of 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 worth $1,542,402,000 after purchasing an additional 842,132 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Franco-Nevada by 100.2% in the 4th quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock worth $264,882,000 after purchasing an additional 639,493 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Company Profile

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.