Franco Nevada (NYSE:FNV) (TSE:FNV) had its price target boosted by equities researchers at CIBC from $245.00 to $251.50 in a research report issued on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the basic materials company’s stock. CIBC’s price objective suggests a potential upside of 69.39% from the company’s current price.
Several other analysts have also recently commented on the stock. Barclays raised their price target on shares of Franco Nevada from $91.00 to $97.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Credit Suisse Group restated a “hold” rating and set a $130.00 price target on shares of Franco Nevada in a report on Wednesday, July 29th. Canaccord Genuity restated a “buy” rating on shares of Franco Nevada in a report on Tuesday, July 21st. Raymond James raised their price target on shares of Franco Nevada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Scotiabank raised their price target on shares of Franco Nevada from $135.00 to $138.00 in a report on Monday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $161.96.
Shares of FNV traded up $0.29 during midday trading on Wednesday, hitting $148.47. The stock had a trading volume of 80,364 shares, compared to its average volume of 955,566. Franco Nevada has a fifty-two week low of $77.18 and a fifty-two week high of $166.11. The business has a 50-day simple moving average of $150.91 and a two-hundred day simple moving average of $134.45. The firm has a market cap of $28.24 billion, a P/E ratio of 131.53, a price-to-earnings-growth ratio of 15.77 and a beta of 0.62.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $195.40 million during the quarter, compared to analysts’ expectations of $216.30 million. Franco Nevada had a net margin of 22.64% and a return on equity of 8.30%. On average, equities analysts anticipate that Franco Nevada will post 2.3 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in shares of Franco Nevada by 66.5% in the first quarter. BNP Paribas Arbitrage SA now owns 333 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 133 shares during the period. Keebeck Wealth Management LLC bought a new position in shares of Franco Nevada in the second quarter valued at approximately $41,000. Johnson Financial Group Inc. bought a new position in shares of Franco Nevada in the first quarter valued at approximately $42,000. Fifth Third Bancorp bought a new position in Franco Nevada during the first quarter worth $47,000. Finally, FDx Advisors Inc. bought a new position in Franco Nevada during the first quarter worth $56,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.
Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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