Franco Nevada (FNV) PT Lowered to $90.00 at Raymond James Financial

Franco Nevada (NYSE:FNV) (TSE:FNV) had its price target lowered by equities research analysts at Raymond James Financial from $93.00 to $90.00 in a report released on Tuesday. The firm currently has an “outperform” rating on the basic materials company’s stock. Raymond James Financial’s price target would indicate a potential upside of 18.55% from the stock’s current price.

FNV has been the topic of a number of other reports. Zacks Investment Research cut shares of Franco Nevada from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Credit Suisse Group cut shares of Franco Nevada from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $78.00 to $80.00 in a report on Monday, September 25th. Canaccord Genuity restated a “buy” rating and issued a $121.00 price target on shares of Franco Nevada in a report on Tuesday, November 7th. Royal Bank of Canada restated a “buy” rating and issued a $100.00 price target on shares of Franco Nevada in a report on Monday, October 23rd. Finally, Scotiabank set a $86.00 price target on shares of Franco Nevada and gave the stock a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $85.70.

Franco Nevada (NYSE:FNV) traded down $2.34 during mid-day trading on Tuesday, reaching $75.92. 872,400 shares of the company’s stock were exchanged, compared to its average volume of 596,607. Franco Nevada has a fifty-two week low of $60.10 and a fifty-two week high of $86.06. The company has a market capitalization of $14,100.00, a PE ratio of 93.73, a price-to-earnings-growth ratio of 17.16 and a beta of -0.14.

Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The firm had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $167.07 million. Franco Nevada had a net margin of 22.12% and a return on equity of 4.31%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. sell-side analysts expect that Franco Nevada will post 1.07 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Segall Bryant & Hamill LLC increased its holdings in Franco Nevada by 0.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 231,567 shares of the basic materials company’s stock worth $17,942,000 after buying an additional 650 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Franco Nevada by 2.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,600 shares of the basic materials company’s stock worth $1,772,000 after buying an additional 700 shares during the period. Comerica Bank increased its holdings in Franco Nevada by 3.5% in the 3rd quarter. Comerica Bank now owns 21,380 shares of the basic materials company’s stock worth $1,709,000 after buying an additional 731 shares during the period. Hexavest Inc. increased its holdings in Franco Nevada by 9.3% in the 4th quarter. Hexavest Inc. now owns 8,648 shares of the basic materials company’s stock worth $692,000 after buying an additional 733 shares during the period. Finally, Stifel Financial Corp increased its holdings in Franco Nevada by 11.7% in the 2nd quarter. Stifel Financial Corp now owns 8,232 shares of the basic materials company’s stock worth $590,000 after buying an additional 860 shares during the period. Hedge funds and other institutional investors own 60.71% of the company’s stock.

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About Franco Nevada

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.