Franco-Nevada (NYSE:FNV) Stock Rating Upgraded by Canaccord Genuity Group

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

Several other research firms have also recently commented on FNV. HC Wainwright lifted their target price on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Scotiabank lowered their price objective 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. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their target price for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group dropped their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

Franco-Nevada Stock 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’s 50-day simple moving average is $126.17 and its 200 day simple moving average is $123.93. The company has a market cap 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.

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 analysts’ consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, equities analysts expect that Franco-Nevada will post 3.22 earnings per share for the current year.

Institutional Investors Weigh In On Franco-Nevada

Hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Franco-Nevada by 0.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock valued at $1,456,208,000 after acquiring an additional 64,429 shares in the last quarter. Van ECK Associates Corp grew its stake in Franco-Nevada by 1.8% in the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock valued at $1,022,452,000 after purchasing an additional 151,566 shares in the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 129,876 shares during the last quarter. Capital World Investors raised its stake 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 worth $547,807,000 after purchasing an additional 120,367 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after purchasing an additional 424,810 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

About Franco-Nevada

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.