Franco-Nevada (NYSE:FNV) Coverage Initiated at UBS Group

Equities researchers at UBS Group started coverage on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $160.00 price target on the basic materials company’s stock. UBS Group’s target price indicates a potential upside of 31.94% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. HC Wainwright raised their target price on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Franco-Nevada Trading Up 2.4 %

Shares of FNV opened at $121.27 on Monday. The stock has a 50 day moving average of $126.17 and a 200 day moving average of $123.93. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of -38.38, a PEG ratio of 19.22 and a beta of 0.75. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). The business had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. As a group, equities research analysts predict that Franco-Nevada will post 3.22 earnings per share for the current year.

Institutional Trading of Franco-Nevada

Several institutional investors and hedge funds have recently bought and sold shares of FNV. Mechanics Financial Corp increased its holdings in shares of Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares during the period. Mather Group LLC. purchased a new position in Franco-Nevada during the second quarter worth about $33,000. Kings Path Partners LLC purchased a new position in Franco-Nevada during the second quarter worth about $36,000. Sunbelt Securities Inc. increased its stake in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of Franco-Nevada by 33.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 110 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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.