Franco-Nevada (NYSE:FNV) PT Raised to $185.00 at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target hoisted by analysts at HC Wainwright from $175.00 to $185.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target indicates a potential upside of 50.10% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Raymond James boosted their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Bank of America cut their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Jefferies Financial Group upped their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Scotiabank upped their price objective on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Finally, TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $123.25 on Monday. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $161.25. The stock has a market capitalization of $23.70 billion, a P/E ratio of -49.50, a price-to-earnings-growth ratio of 6.29 and a beta of 0.72. The company has a 50 day moving average price of $116.74 and a 200 day moving average price of $114.92.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The company had revenue of $256.80 million during the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter in the previous year, the business posted $0.79 EPS. The firm’s revenue was down 7.1% on a year-over-year basis. On average, research analysts forecast that Franco-Nevada will post 2.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Franco-Nevada

A number of large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its stake in shares of Franco-Nevada by 15.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock worth $163,156,000 after purchasing an additional 198,144 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Franco-Nevada by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock worth $948,364,000 after purchasing an additional 112,274 shares during the last quarter. Beddow Capital Management Inc. boosted its stake in shares of Franco-Nevada by 3.8% during the 4th quarter. Beddow Capital Management Inc. now owns 56,639 shares of the basic materials company’s stock worth $6,276,000 after purchasing an additional 2,059 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Franco-Nevada by 11.9% during the 3rd quarter. Invesco Ltd. now owns 491,631 shares of the basic materials company’s stock worth $65,628,000 after purchasing an additional 52,401 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Franco-Nevada by 0.4% during the 3rd quarter. TD Asset Management Inc now owns 2,232,515 shares of the basic materials company’s stock worth $299,425,000 after purchasing an additional 9,482 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

About Franco-Nevada

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.