Franco-Nevada Corporation (FNV) PT Raised to $97.00 at TD Securities
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) had its price objective upped by equities researchers at TD Securities from $92.00 to $97.00 in a report released on Tuesday. The brokerage presently has a “buy” rating on the basic materials company’s stock. TD Securities’ target price would indicate a potential upside of 14.79% from the company’s current price.
Several other research firms have also recently issued reports on FNV. Royal Bank Of Canada reiterated an “outperform” rating on shares of Franco-Nevada Corporation in a research report on Thursday, September 7th. Scotiabank boosted their target price on Franco-Nevada Corporation from $79.50 to $82.00 and gave the stock a “sector perform” rating in a research report on Friday, September 8th. Canaccord Genuity restated a “buy” rating and issued a $121.00 price target on shares of Franco-Nevada Corporation in a report on Tuesday. ValuEngine upgraded Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Credit Suisse Group cut Franco-Nevada Corporation from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $78.00 to $80.00 in a report on Monday, September 25th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $85.60.
Franco-Nevada Corporation (FNV) traded up $4.89 on Tuesday, reaching $84.50. The company’s stock had a trading volume of 1,236,149 shares, compared to its average volume of 517,374. The stock has a market cap of $15,670.00, a P/E ratio of 76.55, a PEG ratio of 19.48 and a beta of -0.14. Franco-Nevada Corporation has a 12-month low of $53.31 and a 12-month high of $85.03.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The firm had revenue of $171.50 million during the quarter, compared to the consensus estimate of $167.07 million. During the same period in the prior year, the business earned $0.30 EPS. The firm’s revenue was down .3% compared to the same quarter last year. equities research analysts predict that Franco-Nevada Corporation will post 1.02 EPS for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of FNV. FMR LLC raised its position in shares of Franco-Nevada Corporation by 7.5% in the 2nd quarter. FMR LLC now owns 14,804,189 shares of the basic materials company’s stock worth $1,068,190,000 after buying an additional 1,028,578 shares during the period. Troy Asset Management Ltd purchased a new position in shares of Franco-Nevada Corporation in the 3rd quarter worth $61,714,000. Franklin Resources Inc. raised its position in shares of Franco-Nevada Corporation by 30.0% in the 2nd quarter. Franklin Resources Inc. now owns 2,800,453 shares of the basic materials company’s stock worth $202,127,000 after buying an additional 646,929 shares during the period. CIBC Asset Management Inc increased its holdings in Franco-Nevada Corporation by 34.8% in the 2nd quarter. CIBC Asset Management Inc now owns 1,966,527 shares of the basic materials company’s stock valued at $141,730,000 after purchasing an additional 507,518 shares in the last quarter. Finally, Barometer Capital Management Inc. increased its holdings in Franco-Nevada Corporation by 4,017.1% in the 2nd quarter. Barometer Capital Management Inc. now owns 288,200 shares of the basic materials company’s stock valued at $20,797,000 after purchasing an additional 281,200 shares in the last quarter. 59.99% of the stock is currently owned by institutional investors and hedge funds.
About Franco-Nevada Corporation
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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