Raymond James Issues Positive Forecast for Franco-Nevada (NYSE:FNV) Stock Price

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective boosted by equities research analysts at Raymond James from $160.00 to $162.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Raymond James’ price objective would suggest a potential upside of 12.06% from the company’s previous close.

FNV has been the subject of a number of other research reports. Scotiabank boosted their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Tuesday. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Royal Bank of Canada upped their price objective 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. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday. Finally, HC Wainwright raised their target price on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.63.

Franco-Nevada Stock Up 0.7 %

Shares of FNV traded up $0.95 during trading hours on Tuesday, hitting $144.56. The company had a trading volume of 536,304 shares, compared to its average volume of 614,736. The business has a fifty day moving average of $133.80 and a 200-day moving average of $127.30. The firm has a market cap of $27.84 billion, a price-to-earnings ratio of -45.73, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada has a 12 month low of $111.98 and a 12 month high of $150.23.

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

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently made changes to their positions in FNV. Laurel Wealth Advisors LLC purchased a new position in shares of Franco-Nevada in the 4th quarter worth approximately $47,000. Point72 DIFC Ltd purchased a new stake in Franco-Nevada during the third quarter valued at about $52,000. Physician Wealth Advisors Inc. bought a new position in shares of Franco-Nevada in the fourth quarter worth $49,000. Erste Asset Management GmbH purchased a new position in Franco-Nevada during the third quarter valued at approximately $55,000. Finally, Harbour Investments Inc. boosted its stake in Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after buying an additional 93 shares during the period. 77.06% of the stock is owned by institutional investors.

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.