Canaccord Genuity Group Upgrades Franco-Nevada (NYSE:FNV) to Buy

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV was upgraded by research analysts at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday, MarketBeat reports.

A number of other equities research analysts have also issued reports on the company. Bank of America lowered Franco-Nevada from a "buy" rating to a "neutral" rating and reduced their price target for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th. TD Cowen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Scotiabank reduced their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Finally, HC Wainwright boosted their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of "Moderate Buy" and an average target price of $157.00.

Franco-Nevada Price Performance

Shares of NYSE FNV traded up $4.51 during midday trading on Monday, hitting $118.46. The company's stock had a trading volume of 739,022 shares, compared to its average volume of 664,001. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60. The business's fifty day simple moving average is $126.21 and its two-hundred day simple moving average is $123.96. The firm has a market capitalization of $22.80 billion, a price-to-earnings ratio of -36.93, a price-to-earnings-growth ratio of 19.22 and a beta of 0.75.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). The business had revenue of $275.70 million during the quarter, compared to analysts' expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business's quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. Analysts anticipate that Franco-Nevada will post 3.22 EPS for the current fiscal year.

Institutional Trading of Franco-Nevada

Several institutional investors and hedge funds have recently made changes to their positions in FNV. Mechanics Financial Corp increased its position in 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 buying an additional 150 shares during the period. Mather Group LLC. purchased a new position in shares of Franco-Nevada during the second quarter worth approximately $33,000. Kings Path Partners LLC acquired a new position in shares of Franco-Nevada in the 2nd quarter valued at $36,000. Sunbelt Securities Inc. raised its position in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Franco-Nevada by 33.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company's stock worth $52,000 after purchasing an additional 110 shares during the period. 77.06% of the stock is owned by hedge funds and other 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.