Franco Nevada (NYSE:FNV) Stock Rating Upgraded by TD Securities

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.

Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $195.40 million for the quarter, compared to analyst estimates of $216.30 million. Franco Nevada had a return on equity of 8.30% and a net margin of 22.64%. As a group, analysts anticipate that Franco Nevada will post 2.33 earnings per share for the current fiscal year.

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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Analyst Recommendations for Franco Nevada (NYSE:FNV)

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