Franco-Nevada Corporation (FNV) Rating Increased to Hold at ValuEngine
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Tuesday.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Monday, July 24th. Deutsche Bank AG reiterated a “hold” rating and set a $64.00 price target (down previously from $65.00) on shares of Franco-Nevada Corporation in a research note on Sunday, June 25th. BidaskClub downgraded Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Credit Suisse Group set a $80.00 price target on Franco-Nevada Corporation and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Finally, Scotiabank increased their price target on Franco-Nevada Corporation from $45.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 11th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $78.89.
Shares of Franco-Nevada Corporation (NYSE:FNV) opened at 80.82 on Tuesday. The firm has a market capitalization of $14.99 billion, a PE ratio of 101.92 and a beta of -0.03. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $81.98. The stock has a 50 day moving average of $74.48 and a 200-day moving average of $70.16.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $163.60 million during the quarter, compared to the consensus estimate of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Equities analysts anticipate that Franco-Nevada Corporation will post $0.99 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC increased its position in shares of Franco-Nevada Corporation by 199.0% in the second quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after buying an additional 1,001 shares in the last quarter. Hexavest Inc. increased its position in shares of Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after buying an additional 559 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Franco-Nevada Corporation during the first quarter valued at approximately $201,000. Blair William & Co. IL bought a new position in shares of Franco-Nevada Corporation during the second quarter valued at approximately $210,000. Finally, Schroder Investment Management Group bought a new position in shares of Franco-Nevada Corporation during the first quarter valued at approximately $222,000. Institutional investors and hedge funds own 60.28% of the company’s stock.
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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