HC Wainwright Lowers Franco-Nevada (NYSE:FNV) Price Target to $155.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price reduced by research analysts at HC Wainwright from $200.00 to $155.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target suggests a potential upside of 33.38% from the stock’s previous close. HC Wainwright also issued estimates for Franco-Nevada’s FY2024 earnings at $2.81 EPS and FY2025 earnings at $3.68 EPS.

Several other equities analysts have also commented on the company. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price target for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Scotiabank decreased their price objective 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 shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $145.33.

Franco-Nevada Trading Up 0.9 %

Shares of FNV stock opened at $116.21 on Friday. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $137.60. The company’s 50-day moving average price is $124.60 and its 200-day moving average price is $123.27. The stock has a market cap of $22.37 billion, a price-to-earnings ratio of -36.78 and a beta of 0.72.

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 for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm 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%. The business’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period last year, the company earned $0.91 EPS. As a group, equities research analysts predict that Franco-Nevada will post 3.22 EPS for the current year.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds have recently bought and sold shares of the stock. M&G PLC raised its holdings in Franco-Nevada by 3.2% in the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after acquiring an additional 51,996 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after purchasing an additional 706,919 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its position in shares of Franco-Nevada by 1.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after purchasing an additional 17,232 shares during the last quarter. Telemark Asset Management LLC grew its stake in shares of Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings 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. Institutional investors and hedge funds 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.