Franco-Nevada (NYSE:FNV) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target boosted by equities research analysts at Royal Bank of Canada from $145.00 to $155.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price points to a potential upside of 8.83% from the company’s previous close.

Several other research analysts also recently weighed in on FNV. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Scotiabank lowered their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research note on Tuesday, January 28th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, UBS Group assumed coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average target price of $146.71.

Franco-Nevada Stock Down 0.2 %

NYSE:FNV opened at $142.43 on Tuesday. The business’s 50-day simple moving average is $126.40 and its two-hundred day simple moving average is $125.10. Franco-Nevada has a 52 week low of $103.64 and a 52 week high of $143.77. The stock has a market cap of $27.42 billion, a PE ratio of -45.07, a P/E/G ratio of 9.88 and a beta of 0.74.

Hedge Funds Weigh In On Franco-Nevada

Hedge funds have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC purchased a new position in shares of Franco-Nevada during the fourth quarter valued at $47,000. Physician Wealth Advisors Inc. purchased a new position in Franco-Nevada during the 4th quarter valued at about $49,000. Point72 DIFC Ltd bought a new stake in shares of Franco-Nevada in the 3rd quarter valued at about $52,000. Harbour Investments Inc. lifted its position in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada in the 3rd quarter worth approximately $55,000. 77.06% of the stock is currently owned by institutional investors.

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.