TD Securities Boosts Franco-Nevada Corporation (NYSE:FNV) Price Target to $88.00
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) had its price objective boosted by investment analysts at TD Securities from $83.00 to $88.00 in a report released on Thursday. The firm presently has a “buy” rating on the basic materials company’s stock. TD Securities’ target price points to a potential upside of 16.87% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Credit Suisse Group set a $78.00 target price on Franco-Nevada Corporation and gave the company a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Wednesday, July 12th. BidaskClub downgraded Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Barclays PLC restated an “equal weight” rating and issued a $74.00 target price (up from $68.00) on shares of Franco-Nevada Corporation in a research note on Tuesday, June 6th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $78.89.
Shares of Franco-Nevada Corporation (FNV) traded up 2.91% during trading on Thursday, hitting $77.49. The stock had a trading volume of 558,477 shares. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $80.00. The firm’s 50-day moving average is $72.51 and its 200-day moving average is $69.02. The firm has a market cap of $14.13 billion, a P/E ratio of 99.35 and a beta of -0.03.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. Franco-Nevada Corporation had a return on equity of 4.49% and a net margin of 21.26%. The company had revenue of $163.60 million during the quarter, compared to the consensus estimate of $164.62 million. During the same period in the previous year, the firm posted $0.22 earnings per share. Franco-Nevada Corporation’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts forecast that Franco-Nevada Corporation will post $0.98 EPS for the current year.
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A number of large investors have recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Franco-Nevada Corporation by 2.9% in the first quarter. US Bancorp DE now owns 20,500 shares of the basic materials company’s stock valued at $1,343,000 after buying an additional 575 shares during the last quarter. Chase Investment Counsel Corp purchased a new stake in shares of Franco-Nevada Corporation during the first quarter valued at approximately $265,000. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Franco-Nevada Corporation by 334.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 36,413 shares of the basic materials company’s stock valued at $2,385,000 after buying an additional 28,041 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Franco-Nevada Corporation by 15.2% in the first quarter. Great West Life Assurance Co. Can now owns 1,389,027 shares of the basic materials company’s stock valued at $90,859,000 after buying an additional 183,038 shares during the last quarter. Finally, Geneva Advisors LLC boosted its stake in shares of Franco-Nevada Corporation by 11.0% in the first quarter. Geneva Advisors LLC now owns 16,270 shares of the basic materials company’s stock valued at $1,066,000 after buying an additional 1,615 shares during the last quarter. 63.49% of the stock is currently 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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