Franco-Nevada (NYSE:FNV) Price Target Raised to $150.00 at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective upped by stock analysts at Scotiabank from $145.00 to $150.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective would suggest a potential upside of 3.18% from the company’s current price.

Several other analysts also recently commented on the company. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Friday. HC Wainwright upped their target price on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada lifted their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.86.

Franco-Nevada Price Performance

Franco-Nevada stock traded up $1.77 during mid-day trading on Tuesday, reaching $145.38. The stock had a trading volume of 72,161 shares, compared to its average volume of 612,946. Franco-Nevada has a one year low of $111.98 and a one year high of $150.23. The company has a 50-day moving average price of $133.80 and a two-hundred day moving average price of $127.30. The company has a market capitalization of $27.99 billion, a price-to-earnings ratio of -45.93, a PEG ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, equities research analysts anticipate that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors have recently bought and sold shares of FNV. Laurel Wealth Advisors LLC bought a new stake in Franco-Nevada during the fourth quarter valued at about $47,000. Physician Wealth Advisors Inc. purchased a new position in shares of Franco-Nevada during the 4th quarter valued at about $49,000. Point72 DIFC Ltd bought a new position in shares of Franco-Nevada during the 3rd quarter valued at approximately $52,000. Harbour Investments Inc. increased its holdings in Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Franco-Nevada during the 3rd quarter valued at $55,000. 77.06% of the stock is owned by institutional investors.

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.