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Franco-Nevada (NYSE:FNV) Receives "Buy" Rating from HC Wainwright

Franco-Nevada logo with Basic Materials background

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV's stock had its "buy" rating restated by analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $155.00 target price on the basic materials company's stock. HC Wainwright's price target points to a potential upside of 13.74% from the company's current price.

A number of other analysts have also issued reports on the company. Bank of America lowered Franco-Nevada from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Scotiabank decreased their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Finally, UBS Group began coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a "buy" rating and a $160.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.33.

Get Our Latest Stock Analysis on Franco-Nevada

Franco-Nevada Trading Up 0.0 %

FNV traded up $0.04 during trading on Tuesday, hitting $136.28. The company's stock had a trading volume of 472,971 shares, compared to its average volume of 625,632. The firm has a market capitalization of $26.24 billion, a price-to-earnings ratio of -43.13, a P/E/G ratio of 5.90 and a beta of 0.72. The business's fifty day simple moving average is $123.15 and its 200 day simple moving average is $124.20. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $138.34.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business's revenue was down 10.9% on a year-over-year basis. As a group, equities research analysts forecast that Franco-Nevada will post 3.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

Several large investors have recently made changes to their positions in FNV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Franco-Nevada by 76.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company's stock valued at $159,530,000 after purchasing an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in Franco-Nevada by 19.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company's stock valued at $411,003,000 after acquiring an additional 537,047 shares during the last quarter. Victory Capital Management Inc. increased its position in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock worth $433,538,000 after buying an additional 424,810 shares in the last quarter. Two Sigma Advisers LP raised its stake in Franco-Nevada by 60.1% in the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company's stock valued at $119,069,000 after purchasing an additional 359,900 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Franco-Nevada by 4,361.2% during the second quarter. Clearbridge Investments LLC now owns 275,571 shares of the basic materials company's stock valued at $32,659,000 after buying an additional 269,394 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

About Franco-Nevada

(Get Free Report)

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.

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