Scotiabank Increases Franco-Nevada Corporation (FNV) Price Target to $79.50
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) had its price target hoisted by analysts at Scotiabank from $78.00 to $79.50 in a research note issued to investors on Thursday. The firm presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price would suggest a potential upside of 5.58% from the stock’s previous close.
Several other research firms have also issued reports on FNV. BidaskClub lowered Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Barclays PLC lowered their price target on Franco-Nevada Corporation from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, July 13th. Zacks Investment Research raised Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Monday, July 24th. Finally, TD Securities boosted their target price on Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $78.89.
Franco-Nevada Corporation (FNV) traded up 2.91% during trading on Thursday, reaching $77.49. 558,477 shares of the company traded hands. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 99.35 and a beta of -0.03. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $80.00. The company’s 50-day moving average price is $72.51 and its 200 day moving average price is $69.02.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. The firm had revenue of $163.60 million during the quarter, compared to analyst estimates of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.49% and a net margin of 21.26%. Franco-Nevada Corporation’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. On average, equities research analysts expect that Franco-Nevada Corporation will post $0.98 EPS for the current year.
Several large investors have recently added to or reduced their stakes in FNV. Hexavest Inc. raised its stake in 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 during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Franco-Nevada Corporation during the first quarter valued at approximately $201,000. Blair William & Co. IL acquired a new stake in Franco-Nevada Corporation during the second quarter valued at approximately $210,000. Schroder Investment Management Group acquired a new stake in Franco-Nevada Corporation during the first quarter valued at approximately $222,000. Finally, Gluskin Sheff & Assoc Inc. acquired a new stake in Franco-Nevada Corporation during the first quarter valued at approximately $225,000. 63.49% of the stock is owned by hedge funds and other institutional investors.
Franco-Nevada Corporation Company Profile
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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