Franco-Nevada (NYSE:FNV) PT Raised to $141.00 at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target upped by Scotiabank from $140.00 to $141.00 in a report released on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective suggests a potential upside of 15.60% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Jefferies Financial Group raised their price objective on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Bank of America lowered their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Raymond James lifted their target price on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, HC Wainwright lifted their target price on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of “Hold” and a consensus target price of $148.70.

Franco-Nevada Stock Performance

NYSE:FNV opened at $121.97 on Thursday. The company has a market capitalization of $23.46 billion, a PE ratio of -48.98, a P/E/G ratio of 28.24 and a beta of 0.71. The company has a 50 day simple moving average of $121.37 and a two-hundred day simple moving average of $114.63. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $151.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data 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 the consensus estimate of $250.50 million. During the same quarter last year, the firm posted $0.79 EPS. The company’s quarterly revenue was down 7.1% on a year-over-year basis. Research analysts predict that Franco-Nevada will post 3.17 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC purchased a new position in shares of Franco-Nevada during the third quarter worth about $30,000. Creative Financial Designs Inc. ADV bought a new stake in Franco-Nevada in the fourth quarter valued at approximately $34,000. Allworth Financial LP lifted its position in Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 345 shares during the last quarter. Fortis Group Advisors LLC lifted its position in Franco-Nevada by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Franco-Nevada by 37.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.