Bank of America Forecasts Strong Price Appreciation for Franco-Nevada (TSE:FNV) Stock

Franco-Nevada (TSE:FNV) (NYSE:FNV) had its price objective upped by research analysts at Bank of America from C$367.00 to C$384.00 in a research note issued on Thursday,BayStreet.CA reports. Bank of America‘s price target indicates a potential upside of 1.07% from the stock’s current price.

A number of other research analysts also recently commented on FNV. UBS Group increased their price objective on Franco-Nevada from C$260.00 to C$270.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. TD Securities cut their price objective on shares of Franco-Nevada from C$247.00 to C$225.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Canaccord Genuity Group cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and upped their target price for the company from C$350.00 to C$380.00 in a report on Monday, January 26th. Stifel Nicolaus lifted their price target on shares of Franco-Nevada from C$340.00 to C$380.00 in a research note on Tuesday, February 10th. Finally, Royal Bank Of Canada upgraded shares of Franco-Nevada from a “hold” rating to a “moderate buy” rating and set a C$250.00 price objective for the company in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of C$316.11.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock traded up C$3.49 during trading on Thursday, hitting C$379.95. 104,045 shares of the stock were exchanged, compared to its average volume of 416,542. The firm’s 50-day moving average price is C$326.40 and its 200 day moving average price is C$293.82. The stock has a market cap of C$73.25 billion, a price-to-earnings ratio of 79.65, a price-to-earnings-growth ratio of 5.00 and a beta of 0.78. Franco-Nevada has a 12-month low of C$199.61 and a 12-month high of C$380.45.

Franco-Nevada Company Profile

Franco-Nevada Corp is a precious-metals-focused royalty and investment company. The company owns a diversified portfolio of precious metals and royalty streams, which is actively managed to generate the bulk of its revenue from gold, silver, and platinum. The company does not operate mines, develop projects, or conduct exploration. Franco-Nevada’s short-term financial performance is linked to the price of commodities and the amount of production from its portfolio of producing assets. Its long-term performance is affected by the availability of exploration and development capital.