Franco-Nevada (NYSE:FNV) Rating Increased 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 report issued on Monday.

Other equities analysts also recently issued reports about the stock. HC Wainwright upped their price target on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Franco-Nevada Trading Up 2.4 %

FNV opened at $121.27 on Monday. The stock’s fifty day simple moving average is $126.17 and its 200 day simple moving average is $123.93. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $137.60. The stock has a market cap of $23.34 billion, a PE 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 posted 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%. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. Equities analysts forecast that Franco-Nevada will post 3.22 earnings per share for the current year.

Institutional Trading of Franco-Nevada

A number of hedge funds have recently made changes to their positions in FNV. Mechanics Financial Corp lifted its holdings in shares of Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares during the period. Mather Group LLC. bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at about $33,000. Kings Path Partners LLC bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. increased its stake in shares of Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after buying an additional 400 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in shares of Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 110 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

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.