Franco Nevada (FNV) Upgraded to “Buy” at Zacks Investment Research
Franco Nevada (NYSE:FNV) (TSE:FNV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $88.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.23% from the company’s current price.
According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “
Other equities analysts have also recently issued research reports about the company. TD Securities set a $96.00 target price on Franco Nevada and gave the stock a “buy” rating in a report on Friday, December 1st. Canaccord Genuity reiterated a “buy” rating and issued a $121.00 target price on shares of Franco Nevada in a report on Tuesday, November 7th. Royal Bank of Canada reiterated a “buy” rating and issued a $100.00 target price on shares of Franco Nevada in a report on Monday, October 23rd. Credit Suisse Group cut Franco Nevada from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $78.00 to $80.00 in a report on Monday, September 25th. Finally, Scotiabank lifted their target price on Franco Nevada from $82.50 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $85.10.
Shares of Franco Nevada (NYSE:FNV) opened at $77.72 on Tuesday. Franco Nevada has a 12 month low of $60.10 and a 12 month high of $86.06. The stock has a market capitalization of $14,580.00, a P/E ratio of 95.95, a price-to-earnings-growth ratio of 17.24 and a beta of -0.14.
Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, November 6th. The basic materials company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The firm had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $167.07 million. Franco Nevada had a return on equity of 4.31% and a net margin of 22.12%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. equities analysts predict that Franco Nevada will post 1.07 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC boosted its holdings in Franco Nevada by 199.0% during the 2nd quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 1,001 shares during the period. Advisors Asset Management Inc. boosted its holdings in Franco Nevada by 453.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 1,575 shares during the period. Gratus Capital LLC purchased a new position in Franco Nevada during the 3rd quarter valued at $201,000. Wright Investors Service Inc. purchased a new position in Franco Nevada during the 3rd quarter valued at $245,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Franco Nevada during the 2nd quarter valued at $256,000. Institutional investors own 61.42% of the company’s stock.
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About Franco Nevada
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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