Franco Nevada Corp (FNV) Stock Rating Reaffirmed by Royal Bank Of Canada
Franco Nevada Corp (NYSE:FNV) (TSE:FNV)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday.
FNV has been the subject of several other reports. Credit Suisse Group set a $80.00 price objective on shares of Franco Nevada Corp and gave the stock a “buy” rating in a research report on Wednesday, June 14th. ValuEngine upgraded shares of Franco Nevada Corp from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Franco Nevada Corp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Scotiabank increased their price objective on shares of Franco Nevada Corp from $45.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 11th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $64.00 price objective (down from $65.00) on shares of Franco Nevada Corp in a research report on Sunday, June 25th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $78.89.
Franco Nevada Corp (NYSE:FNV) traded up 2.12% during mid-day trading on Thursday, reaching $84.66. 507,269 shares of the company’s stock were exchanged. The firm has a market cap of $15.70 billion, a price-to-earnings ratio of 106.76 and a beta of -0.07. The stock has a 50-day moving average of $76.79 and a 200-day moving average of $70.92. Franco Nevada Corp has a 12 month low of $53.31 and a 12 month high of $84.90.
Franco Nevada Corp (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Franco Nevada Corp had a net margin of 21.26% and a return on equity of 4.39%. The firm had revenue of $163.60 million during the quarter, compared to analysts’ expectations of $164.62 million. During the same period in the prior year, the company posted $0.22 EPS. The company’s revenue was up 8.8% on a year-over-year basis. Analysts anticipate that Franco Nevada Corp will post $1.00 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its stake in Franco Nevada Corp by 7.5% during the second quarter. FMR LLC now owns 14,804,189 shares of the basic materials company’s stock worth $1,068,190,000 after acquiring an additional 1,028,578 shares in the last quarter. Van ECK Associates Corp boosted its stake in Franco Nevada Corp by 6.6% during the first quarter. Van ECK Associates Corp now owns 10,773,637 shares of the basic materials company’s stock worth $705,781,000 after acquiring an additional 666,196 shares in the last quarter. Vanguard Group Inc. boosted its stake in Franco Nevada Corp by 3.6% during the second quarter. Vanguard Group Inc. now owns 4,221,772 shares of the basic materials company’s stock worth $304,643,000 after acquiring an additional 145,698 shares in the last quarter. TD Asset Management Inc. boosted its stake in Franco Nevada Corp by 6.0% during the second quarter. TD Asset Management Inc. now owns 3,432,041 shares of the basic materials company’s stock worth $247,287,000 after acquiring an additional 194,998 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Franco Nevada Corp by 30.0% during the second quarter. Franklin Resources Inc. now owns 2,800,453 shares of the basic materials company’s stock worth $202,127,000 after acquiring an additional 646,929 shares in the last quarter. 60.28% of the stock is currently owned by institutional investors and hedge funds.
Franco Nevada Corp Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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