Franco-Nevada’s (FNV) Buy Rating Reiterated at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $305.00 target price on the basic materials company’s stock. HC Wainwright’s price objective points to a potential upside of 28.70% from the company’s previous close.

FNV has been the subject of a number of other research reports. Scotiabank increased their target price on Franco-Nevada from $283.00 to $286.00 and gave the stock a “sector perform” rating in a report on Monday, March 16th. Weiss Ratings upgraded Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Wall Street Zen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Finally, Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $257.25.

Franco-Nevada Trading Down 0.3%

FNV stock opened at $236.98 on Wednesday. The stock has a 50-day moving average price of $247.89 and a two-hundred day moving average price of $230.76. The stock has a market cap of $45.70 billion, a PE ratio of 41.14, a price-to-earnings-growth ratio of 2.30 and a beta of 0.34. Franco-Nevada has a 1 year low of $152.89 and a 1 year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. The firm had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The company’s revenue was up 76.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. On average, analysts forecast that Franco-Nevada will post 7.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently bought and sold shares of FNV. AQR Capital Management LLC bought a new position in Franco-Nevada during the first quarter worth about $241,000. NewEdge Advisors LLC grew its holdings in Franco-Nevada by 16.7% during the first quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock worth $1,038,000 after purchasing an additional 943 shares during the period. Intech Investment Management LLC grew its holdings in Franco-Nevada by 118.3% during the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after purchasing an additional 5,032 shares during the period. Acadian Asset Management LLC grew its holdings in Franco-Nevada by 800.0% during the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after purchasing an additional 2,400 shares during the period. Finally, Marshall Wace LLP bought a new position in Franco-Nevada during the second quarter worth about $1,477,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.