Franco Nevada (FNV) Price Target Increased to $75.00 by Analysts at Deutsche Bank

Franco Nevada (NYSE:FNV) (TSE:FNV) had its target price boosted by analysts at Deutsche Bank from $73.50 to $75.00 in a report released on Wednesday, Stock Target Advisor reports. The firm presently has a “hold” rating on the basic materials company’s stock. Deutsche Bank’s price objective points to a potential upside of 0.55% from the stock’s previous close.

Several other equities analysts also recently commented on FNV. Barclays downgraded shares of Franco Nevada from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $74.00 to $73.00 in a research report on Tuesday. TD Securities lowered their target price on shares of Franco Nevada from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Raymond James reissued an “outperform” rating and set a $88.00 target price on shares of Franco Nevada in a research report on Thursday, March 21st. Zacks Investment Research reissued a “hold” rating on shares of Franco Nevada in a research report on Monday, December 31st. Finally, BMO Capital Markets reissued a “hold” rating on shares of Franco Nevada in a research report on Monday, December 17th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Franco Nevada presently has an average rating of “Hold” and an average price target of $89.86.

Shares of NYSE:FNV opened at $74.59 on Wednesday. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.04. Franco Nevada has a 1 year low of $58.26 and a 1 year high of $78.82. The firm has a market cap of $13.98 billion, a P/E ratio of 63.75, a PEG ratio of 15.37 and a beta of 0.13.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, March 19th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.02). Franco Nevada had a return on equity of 4.62% and a net margin of 21.28%. The firm had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $157.37 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. Franco Nevada’s revenue was down 11.4% on a year-over-year basis. Analysts anticipate that Franco Nevada will post 1.22 earnings per share for the current year.

Several large investors have recently modified their holdings of FNV. JPMorgan Chase & Co. grew its position in shares of Franco Nevada by 143.8% in the third quarter. JPMorgan Chase & Co. now owns 1,854,956 shares of the basic materials company’s stock valued at $116,027,000 after purchasing an additional 1,094,236 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Franco Nevada by 8.8% in the third quarter. Alliancebernstein L.P. now owns 69,266 shares of the basic materials company’s stock valued at $4,333,000 after purchasing an additional 5,617 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Franco Nevada by 31.7% in the third quarter. Bank of New York Mellon Corp now owns 256,022 shares of the basic materials company’s stock valued at $16,014,000 after purchasing an additional 61,558 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Franco Nevada by 27.2% in the third quarter. PNC Financial Services Group Inc. now owns 7,495 shares of the basic materials company’s stock valued at $469,000 after purchasing an additional 1,602 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Franco Nevada by 12.0% in the third quarter. Dimensional Fund Advisors LP now owns 66,233 shares of the basic materials company’s stock valued at $4,143,000 after purchasing an additional 7,095 shares during the last quarter. 67.87% of the stock is currently owned by institutional investors.

Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.

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