Franco-Nevada (NYSE:FNV) Raised to Buy at Canaccord Genuity Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Monday, MarketBeat.com reports.

A number of other analysts have also recently commented on the company. Scotiabank reduced their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group lowered their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Franco-Nevada Trading Up 2.4 %

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

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share 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 positive return on equity of 10.55% and a negative net margin of 55.28%. The company’s revenue was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. Sell-side analysts predict that Franco-Nevada will post 3.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FNV. Massachusetts Financial Services Co. MA lifted its position in shares of Franco-Nevada by 0.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock worth $1,456,208,000 after buying an additional 64,429 shares in the last quarter. Van ECK Associates Corp increased its stake in Franco-Nevada by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock worth $1,022,452,000 after acquiring an additional 151,566 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Franco-Nevada by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock worth $878,696,000 after acquiring an additional 129,876 shares in the last quarter. Capital World Investors boosted its position in shares of Franco-Nevada by 2.7% during the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock valued at $547,807,000 after acquiring an additional 120,367 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Franco-Nevada by 13.9% in the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.