Franco-Nevada (NYSE:FNV) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) had its price objective increased by stock analysts at Royal Bank Of Canada from $285.00 to $300.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 14.25% from the stock’s previous close.

Several other analysts have also recently weighed in on FNV. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price target for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a report on Wednesday, May 20th. Scotiabank dropped their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Finally, Bank of America cut their price target on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus price target of $274.90.

Check Out Our Latest Research Report on FNV

Franco-Nevada Trading Down 0.2%

Franco-Nevada stock traded down $0.51 during mid-day trading on Wednesday, reaching $262.58. The company had a trading volume of 264,935 shares, compared to its average volume of 850,145. The business has a fifty day simple moving average of $236.38 and a 200 day simple moving average of $236.69. The company has a market cap of $50.64 billion, a P/E ratio of 34.29, a P/E/G ratio of 2.42 and a beta of 0.39. Franco-Nevada has a fifty-two week low of $181.50 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm’s quarterly revenue was up 57.3% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. Research analysts forecast that Franco-Nevada will post 7.54 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after buying an additional 842,132 shares during the period. EdgePoint Investment Group Inc. lifted its stake in Franco-Nevada by 3.3% in the first quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock valued at $857,196,000 after buying an additional 110,222 shares during the period. Norges Bank bought a new position in shares of Franco-Nevada during the 4th quarter worth approximately $578,577,000. Geode Capital Management LLC grew its position in shares of Franco-Nevada by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 1,932,148 shares of the basic materials company’s stock worth $412,395,000 after buying an additional 197,567 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Franco-Nevada by 30.7% during the 4th quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company’s stock worth $391,638,000 after buying an additional 443,839 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Company Profile

(Get Free Report)

Franco-Nevada Corporation (NYSE: FNV) is a Canada-based royalty and streaming company focused primarily on precious metals. Rather than operating mines, the company provides upfront capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from designated assets.

Its portfolio is anchored by gold royalties and streams, with additional exposure to silver, platinum group metals and other mined commodities. Franco-Nevada also holds interests in certain energy assets, including oil and natural gas royalties.

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Analyst Recommendations for Franco-Nevada (NYSE:FNV)

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