Scotiabank Raises Franco-Nevada (NYSE:FNV) Price Target to $150.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price raised by investment analysts at Scotiabank from $145.00 to $150.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective would indicate a potential upside of 3.18% from the stock’s previous close.

FNV has been the topic of several other research reports. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. UBS Group lifted their price target on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, HC Wainwright increased their price target on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus target price of $150.86.

Franco-Nevada Stock Up 1.2 %

Shares of NYSE FNV traded up $1.77 during trading hours on Tuesday, reaching $145.38. 72,161 shares of the stock traded hands, compared to its average volume of 612,946. Franco-Nevada has a 52-week low of $111.98 and a 52-week high of $150.23. The company’s 50-day simple moving average is $133.80 and its two-hundred day simple moving average is $127.30. The company has a market capitalization of $27.99 billion, a P/E ratio of -45.93, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. As a group, sell-side analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors have recently bought and sold shares of the stock. Laurel Wealth Advisors LLC purchased a new position in shares of Franco-Nevada during the 4th quarter worth approximately $47,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada during the third quarter valued at $52,000. Physician Wealth Advisors Inc. bought a new stake in shares of Franco-Nevada during the 4th quarter valued at $49,000. Erste Asset Management GmbH purchased a new stake in Franco-Nevada in the third quarter worth about $55,000. Finally, Harbour Investments Inc. increased its stake in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Company Profile

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.