Franco-Nevada (NYSE:FNV) Upgraded by Wall Street Zen to “Buy” Rating

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Several other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a research report on Wednesday. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price target for the stock from $292.00 to $291.00 in a research report on Wednesday. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price target for the stock from $292.00 to $291.00 in a research report on Wednesday. Finally, Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 20th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $271.00.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $225.75 on Friday. The stock has a market cap of $43.54 billion, a P/E ratio of 31.80, a PEG ratio of 1.95 and a beta of 0.34. Franco-Nevada has a 1 year low of $152.89 and a 1 year high of $285.67. The firm’s 50 day moving average price is $242.33 and its 200-day moving average price is $232.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. During the same quarter last year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 76.6% compared to the same quarter last year. As a group, equities analysts expect that Franco-Nevada will post 8.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 64 shares during the period. Transamerica Financial Advisors LLC purchased a new stake in Franco-Nevada in the fourth quarter worth about $25,000. Burkett Financial Services LLC purchased a new stake in Franco-Nevada in the third quarter worth about $28,000. Private Trust Co. NA purchased a new stake in Franco-Nevada in the fourth quarter worth about $29,000. Finally, Smartleaf Asset Management LLC lifted its stake in Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares during the period. Institutional investors own 77.06% of the company’s stock.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.