HC Wainwright Issues Positive Forecast for Franco-Nevada (NYSE:FNV) Stock Price

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective lifted by HC Wainwright from $200.00 to $210.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s target price would suggest a potential upside of 13.52% from the stock’s previous close.

Several other brokerages have also weighed in on FNV. Bank of America increased their target price on shares of Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Raymond James Financial lifted their target price on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, October 10th. CIBC restated an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. UBS Group raised their price target on Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Scotiabank boosted their price objective on Franco-Nevada from $184.00 to $225.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and an average target price of $217.57.

Franco-Nevada Stock Performance

Shares of NYSE FNV traded down $2.83 during trading on Tuesday, hitting $184.99. 392,557 shares of the company were exchanged, compared to its average volume of 837,140. The company has a fifty day moving average price of $201.74 and a 200-day moving average price of $179.28. The firm has a market capitalization of $35.66 billion, a PE ratio of 45.35, a P/E/G ratio of 1.70 and a beta of 0.42. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The business had revenue of $487.70 million during the quarter, compared to the consensus estimate of $448.51 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business’s revenue was up 76.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. Research analysts anticipate that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FNV. Massachusetts Financial Services Co. MA raised its holdings in Franco-Nevada by 1.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock worth $1,923,400,000 after purchasing an additional 207,232 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Franco-Nevada by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 8,086,420 shares of the basic materials company’s stock valued at $1,327,612,000 after buying an additional 241,081 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Franco-Nevada by 35.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after buying an additional 838,853 shares during the last quarter. Norges Bank acquired a new stake in Franco-Nevada during the 2nd quarter worth $460,218,000. Finally, TD Asset Management Inc lifted its position in Franco-Nevada by 4.4% in the second quarter. TD Asset Management Inc now owns 2,011,787 shares of the basic materials company’s stock valued at $329,626,000 after acquiring an additional 85,117 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

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.