Franco-Nevada Price Target Increased to $55.00 by Analysts at Morgan Stanley (FNV)
Analysts at Morgan Stanley lifted their price target on shares of Franco-Nevada (NYSE:FNV) from $52.00 to $55.00 in a research report issued to clients and investors on Tuesday. Morgan Stanley’s price objective points to a potential downside of 4.55% from the company’s current price.
FNV has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Franco-Nevada from C$64.00 to C$71.00 in a research note on Wednesday, July 2nd. They now have an “outperform” rating on the stock. Separately, analysts at TheStreet upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Wednesday, July 2nd. Finally, 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. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.51.
Shares of Franco-Nevada (NYSE:FNV) traded up 2.18% during mid-day trading on Tuesday, hitting $57.62. 550,629 shares of the company’s stock traded hands. Franco-Nevada has a 1-year low of $34.06 and a 1-year high of $58.11. The stock’s 50-day moving average is $50.83 and its 200-day moving average is $48.21. The company has a market cap of $8.488 billion and a price-to-earnings ratio of 704.88.
Franco-Nevada (NYSE:FNV) last released its earnings data on Wednesday, May 7th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ 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. Franco-Nevada’s revenue was down 4.3% compared to the same quarter last year. Analysts expect that Franco-Nevada will post $0.95 EPS for the current fiscal year.
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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