HC Wainwright Reiterates “Buy” Rating for Franco-Nevada (NYSE:FNV)

Franco-Nevada (NYSE:FNV) (TSE:FNV)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report issued on Wednesday, Marketbeat Ratings reports. They presently have a $195.00 price target on the basic materials company’s stock, up from their previous price target of $180.00. HC Wainwright’s target price would indicate a potential upside of 15.79% from the company’s current price.

Several other analysts have also recently commented on FNV. TD Securities cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, March 11th. Royal Bank of Canada upped their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Raymond James increased their price objective on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. UBS Group lifted their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, BMO Capital Markets started coverage on shares of Franco-Nevada in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $165.25.

Franco-Nevada Stock Down 0.1%

Shares of Franco-Nevada stock opened at $168.41 on Wednesday. Franco-Nevada has a twelve month low of $112.70 and a twelve month high of $178.74. The stock has a market cap of $32.43 billion, a price-to-earnings ratio of -53.30, a P/E/G ratio of 9.78 and a beta of 0.45. The company’s fifty day moving average is $162.73 and its 200 day moving average is $141.87.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS. As a group, equities analysts anticipate that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Franco-Nevada during the 4th quarter worth approximately $237,643,000. EdgePoint Investment Group Inc. increased its holdings in shares of Franco-Nevada by 49.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock valued at $582,100,000 after acquiring an additional 1,650,358 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Franco-Nevada by 198.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company’s stock worth $268,280,000 after purchasing an additional 1,133,373 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Franco-Nevada by 246.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock worth $136,796,000 after purchasing an additional 828,166 shares in the last quarter. Finally, Capital World Investors grew its position in Franco-Nevada by 9.8% in the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock valued at $934,106,000 after purchasing an additional 711,591 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.