Franco-Nevada Upgraded to Hold at TheStreet (FNV)
The analysts wrote, “Franco-Nevada (FNV) has been upgraded by TheStreet Ratings from sell to hold. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, premium valuation and feeble growth in the company’s earnings per share.”
Franco-Nevada (NYSE:FNV) traded up 1.39% on Wednesday, hitting $57.01. 455,732 shares of the company’s stock traded hands. Franco-Nevada has a 1-year low of $33.53 and a 1-year high of $58.11. The stock has a 50-day moving average of $50.07 and a 200-day moving average of $47.79. The company has a market cap of $8.399 billion and a P/E ratio of 702.88.
Franco-Nevada (NYSE:FNV) last announced its earnings results on Wednesday, May 7th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.01. The company had revenue of $104.10 million for the quarter, compared to the consensus estimate of $101.23 million. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that Franco-Nevada will post $0.96 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Paradigm Capital raised their price target on shares of Franco-Nevada from $55.00 to $70.00 in a research note on Wednesday, June 25th. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Franco-Nevada in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $52.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Franco-Nevada in a research note on Thursday, May 29th. They set an “equal weight” rating and a $52.00 price target on the stock. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $52.24.
Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and stream company with interests in platinum group metals (PGMs), oil and gas and other resource assets.
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