Credit Suisse Group reaffirmed their hold rating on shares of Franco Nevada (NYSE:FNV) (TSE:FNV) in a research note released on Wednesday morning, AnalystRatings.com reports. They currently have a $130.00 target price on the basic materials company’s stock.
Several other research firms have also weighed in on FNV. TD Securities increased their price target on shares of Franco Nevada from $130.00 to $150.00 and gave the company a hold rating in a research report on Thursday, May 7th. Barclays lifted their target price on shares of Franco Nevada from $91.00 to $97.00 and gave the stock an underweight rating in a research note on Monday, July 20th. Scotiabank upped their price target on shares of Franco Nevada from $135.00 to $138.00 in a research note on Monday, July 20th. Raymond James raised their price objective on shares of Franco Nevada from $146.00 to $151.00 and gave the stock an outperform rating in a report on Wednesday, July 15th. Finally, CIBC lifted their price objective on shares of Franco Nevada from $220.00 to $235.00 and gave the company an outperform rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $151.54.
Franco Nevada stock opened at $159.85 on Wednesday. Franco Nevada has a 12-month low of $77.18 and a 12-month high of $165.98. The firm’s fifty day moving average is $142.77 and its 200 day moving average is $125.65. The company has a market capitalization of $30.47 billion, a PE ratio of 166.51, a PEG ratio of 17.27 and a beta of 0.57.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The company had revenue of $240.50 million for the quarter, compared to the consensus estimate of $237.92 million. Franco Nevada had a net margin of 19.91% and a return on equity of 7.85%. Franco Nevada’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. On average, analysts anticipate that Franco Nevada will post 2.28 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Advisory Alpha LLC boosted its stake in Franco Nevada by 108.9% during the first quarter. Advisory Alpha LLC now owns 211 shares of the basic materials company’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in Franco Nevada by 319.1% in the first quarter. Valeo Financial Advisors LLC now owns 285 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 217 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Franco Nevada by 66.5% during the first quarter. BNP Paribas Arbitrage SA now owns 333 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 133 shares in the last quarter. BerganKDV Wealth Management LLC increased its holdings in shares of Franco Nevada by 39.6% during the first quarter. BerganKDV Wealth Management LLC now owns 349 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 99 shares in the last quarter. Finally, Red Door Wealth Management LLC acquired a new position in shares of Franco Nevada during the first quarter valued at about $38,000. 67.43% of the stock is currently owned by institutional investors and hedge funds.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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