Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, July 31st. The firm currently has a $81.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 4.31% from the company’s previous close.
According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Credit Suisse Group set a $80.00 price objective on shares of Franco-Nevada Corporation and gave the stock a “buy” rating in a research report on Wednesday, June 14th. TD Securities reiterated a “buy” rating on shares of Franco-Nevada Corporation in a research report on Wednesday, May 10th. Barclays PLC reiterated an “equal weight” rating and set a $74.00 price objective (up from $68.00) on shares of Franco-Nevada Corporation in a research report on Tuesday, June 6th. Finally, ValuEngine upgraded shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Franco-Nevada Corporation has a consensus rating of “Buy” and an average price target of $78.89.
Franco-Nevada Corporation (FNV) traded down 0.01% on Monday, reaching $77.65. 740,758 shares of the company traded hands. The firm has a market cap of $14.16 billion, a P/E ratio of 99.55 and a beta of -0.03. Franco-Nevada Corporation has a 52-week low of $53.31 and a 52-week high of $79.17. The stock has a 50-day moving average price of $72.77 and a 200-day moving average price of $69.18.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $163.60 million during the quarter, compared to analysts’ expectations of $164.62 million. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. Analysts anticipate that Franco-Nevada Corporation will post $0.98 earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Hexavest Inc. raised its stake in Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock worth $120,000 after buying an additional 559 shares during the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in Franco-Nevada Corporation during the first quarter worth $225,000. Schroder Investment Management Group acquired a new stake in Franco-Nevada Corporation during the first quarter worth $222,000. Blair William & Co. IL acquired a new stake in Franco-Nevada Corporation during the second quarter worth $210,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Franco-Nevada Corporation during the first quarter worth $201,000. 63.49% of the stock is currently owned by hedge funds and other institutional investors.
About Franco-Nevada Corporation
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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