Franco Nevada (NYSE:FNV) Upgraded to “Buy” at Zacks Investment Research

Franco Nevada (NYSE:FNV) (TSE:FNV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, January 9th. The brokerage currently has a $88.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.68% from the company’s previous close.

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. “

Other analysts also recently issued reports about the company. Royal Bank of Canada restated a “buy” rating and issued a $100.00 price target on shares of Franco Nevada in a research note on Monday, October 23rd. TD Securities set a $96.00 price objective on Franco Nevada and gave the stock a “buy” rating in a report on Friday, December 1st. Credit Suisse Group cut Franco Nevada from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $78.00 to $80.00 in a report on Monday, September 25th. Desjardins reaffirmed a “sell” rating on shares of Franco Nevada in a report on Monday, December 11th. Finally, Scotiabank boosted their price target on Franco Nevada from $82.50 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.10.

Shares of Franco Nevada (NYSE:FNV) traded up $0.61 during mid-day trading on Tuesday, hitting $78.80. The company’s stock had a trading volume of 517,300 shares, compared to its average volume of 580,270. Franco Nevada has a one year low of $60.10 and a one year high of $86.06. The stock has a market cap of $14,640.00, a P/E ratio of 97.28, a P/E/G ratio of 17.13 and a beta of -0.14.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, November 6th. The basic materials company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. Franco Nevada had a return on equity of 4.31% and a net margin of 22.12%. The company had revenue of $171.50 million for the quarter, compared to the consensus estimate of $167.07 million. During the same period last year, the business posted $0.30 EPS. The company’s revenue was down .3% on a year-over-year basis. research analysts expect that Franco Nevada will post 1.07 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC grew its position in Franco Nevada by 199.0% during the second quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 1,001 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Franco Nevada by 453.9% in the third quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock worth $149,000 after buying an additional 1,575 shares during the period. Gratus Capital LLC purchased a new stake in shares of Franco Nevada in the third quarter worth about $201,000. Wright Investors Service Inc. acquired a new position in shares of Franco Nevada in the third quarter worth about $245,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Franco Nevada in the second quarter worth about $256,000. 61.42% of the stock is owned by hedge funds and other institutional investors.

WARNING: This report was first reported by BBNS and is owned by of BBNS. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://baseballnewssource.com/markets/franco-nevada-fnv-upgraded-to-buy-by-zacks-investment-research/1823448.html.

Franco Nevada Company Profile

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.

Get a free copy of the Zacks research report on Franco Nevada (FNV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Franco Nevada (NYSE:FNV)

Receive News & Ratings for Franco Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada and related companies with our FREE daily email newsletter.

 


Latest News

Christian Yelich’s Agent Says Relationship with Marlins is Broken
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees


Leave a Reply

 
© 2006-2018 BBNS.