Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) had its price objective boosted by research analysts at Scotiabank from $79.50 to $82.00 in a report issued on Friday. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price indicates a potential downside of 3.14% from the company’s current price.

Other equities research analysts also recently issued reports about the company. BidaskClub upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Credit Suisse Group set a $78.00 target price on Franco-Nevada Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Wednesday, July 12th. TD Securities lifted their target price on Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $74.00 target price (up from $68.00) on shares of Franco-Nevada Corporation in a report on Tuesday, June 6th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $79.10.

Shares of Franco-Nevada Corporation (NYSE:FNV) traded down 0.35% during mid-day trading on Friday, hitting $84.36. The stock had a trading volume of 307,546 shares. Franco-Nevada Corporation has a 1-year low of $53.31 and a 1-year high of $85.03. The firm has a market capitalization of $15.65 billion, a PE ratio of 106.38 and a beta of -0.07. The stock’s 50-day moving average is $77.11 and its 200-day moving average is $71.01.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.25. The business had revenue of $163.60 million during the quarter, compared to the consensus estimate of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Equities analysts expect that Franco-Nevada Corporation will post $1.00 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashford Capital Management Inc. increased its holdings in shares of Franco-Nevada Corporation by 40.2% during the second quarter. Ashford Capital Management Inc. now owns 109,512 shares of the basic materials company’s stock valued at $7,902,000 after acquiring an additional 31,405 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Franco-Nevada Corporation by 199.0% during the second quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 1,001 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Franco-Nevada Corporation during the second quarter valued at approximately $256,000. Kingfisher Capital LLC increased its holdings in shares of Franco-Nevada Corporation by 5.2% during the second quarter. Kingfisher Capital LLC now owns 37,826 shares of the basic materials company’s stock valued at $2,730,000 after acquiring an additional 1,862 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Franco-Nevada Corporation by 42.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company’s stock valued at $345,000 after acquiring an additional 1,099 shares in the last quarter. Hedge funds and other institutional investors own 60.28% of the company’s stock.

About Franco-Nevada Corporation

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.

Analyst Recommendations for Franco-Nevada Corporation (NYSE:FNV)

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