Franco-Nevada’s (FNV) “Buy” Rating Reiterated at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $155.00 price target on the basic materials company’s stock. HC Wainwright’s price target would indicate a potential upside of 19.91% from the company’s current price.

FNV has been the topic of several other reports. Scotiabank decreased their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. UBS Group started coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 target price for the company. Finally, Jefferies Financial Group cut 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.33.

Franco-Nevada Trading Down 0.6 %

NYSE:FNV opened at $129.27 on Tuesday. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $137.60. The company has a market cap of $24.88 billion, a P/E ratio of -40.91, a P/E/G ratio of 7.08 and a beta of 0.72. The company’s 50-day moving average price is $122.51 and its 200-day moving average price is $124.06.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly 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 during 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%. Franco-Nevada’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. On average, analysts expect that Franco-Nevada will post 3.18 earnings per share for the current year.

Institutional Trading of Franco-Nevada

Hedge funds and other institutional investors have recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Franco-Nevada by 76.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after buying an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after buying an additional 537,047 shares during the period. Victory Capital Management Inc. lifted its stake in 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 buying an additional 424,810 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after acquiring an additional 359,900 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of Franco-Nevada by 4,361.2% during the second quarter. Clearbridge Investments LLC now owns 275,571 shares of the basic materials company’s stock worth $32,659,000 after acquiring an additional 269,394 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.