HC Wainwright Forecasts Strong Price Appreciation for Franco-Nevada (NYSE:FNV) Stock

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target raised by investment analysts at HC Wainwright from $155.00 to $165.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price objective would indicate a potential upside of 15.69% from the company’s current price.

A number of other equities analysts have also weighed in on FNV. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Friday. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada upped their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $148.14.

Franco-Nevada Stock Down 0.5 %

Shares of Franco-Nevada stock opened at $142.62 on Tuesday. The business has a fifty day simple moving average of $133.80 and a 200-day simple moving average of $127.30. Franco-Nevada has a fifty-two week low of $111.98 and a fifty-two week high of $150.23. The firm has a market cap of $27.46 billion, a price-to-earnings ratio of -45.13, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Analysts anticipate that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in shares of Franco-Nevada by 2.3% in the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after buying an additional 193,968 shares during the last quarter. Capital World Investors raised its holdings in Franco-Nevada by 9.8% in the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock worth $934,106,000 after acquiring an additional 711,591 shares during the period. Vanguard Group Inc. lifted its position in Franco-Nevada by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock worth $916,540,000 after acquiring an additional 132,465 shares during the last quarter. Bank of Montreal Can lifted its position in Franco-Nevada by 0.3% during the 4th quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company’s stock worth $622,124,000 after acquiring an additional 15,273 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its holdings in Franco-Nevada by 49.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock valued at $582,100,000 after acquiring an additional 1,650,358 shares during the period. 77.06% of the stock is currently 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.