Franco Nevada (NYSE:FNV) (TSE:FNV) was upgraded by stock analysts at TD Securities from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, AnalystRatings.net reports. The brokerage presently has a $190.00 price objective on the basic materials company’s stock, up from their previous price objective of $180.00. TD Securities’ target price suggests a potential upside of 35.07% from the company’s previous close.
A number of other research analysts also recently weighed in on FNV. BMO Capital Markets increased their price target on Franco Nevada from $184.00 to $188.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. CIBC raised their price objective on Franco Nevada from $245.00 to $251.50 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Canaccord Genuity reissued a “buy” rating on shares of Franco Nevada in a research note on Tuesday, July 21st. Credit Suisse Group restated a “hold” rating and issued a $130.00 price objective on shares of Franco Nevada in a report on Wednesday, July 29th. Finally, Barclays lifted their price target on Franco Nevada from $91.00 to $97.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $163.63.
Shares of FNV opened at $140.67 on Tuesday. The stock has a market cap of $26.81 billion, a PE ratio of 125.60, a PEG ratio of 14.99 and a beta of 0.65. Franco Nevada has a 1 year low of $77.18 and a 1 year high of $166.11. The stock has a 50 day simple moving average of $142.24 and a 200-day simple moving average of $140.83.
Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Franco Nevada by 0.3% during the 2nd quarter. FMR LLC now owns 14,318,331 shares of the basic materials company’s stock valued at $2,000,199,000 after buying an additional 49,368 shares in the last quarter. FIL Ltd boosted its stake in shares of Franco Nevada by 5.5% during the 2nd quarter. FIL Ltd now owns 6,138,301 shares of the basic materials company’s stock valued at $857,422,000 after purchasing an additional 321,761 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Franco Nevada by 100.2% during the first quarter. The Manufacturers Life Insurance Company now owns 2,583,320 shares of the basic materials company’s stock worth $255,201,000 after acquiring an additional 1,293,102 shares in the last quarter. Swiss National Bank raised its holdings in Franco Nevada by 1.2% in the second quarter. Swiss National Bank now owns 1,616,000 shares of the basic materials company’s stock worth $224,211,000 after buying an additional 19,200 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in Franco Nevada by 6.3% in the second quarter. APG Asset Management N.V. now owns 1,258,088 shares of the basic materials company’s stock worth $155,971,000 after buying an additional 74,473 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.
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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