Franco-Nevada (NYSE:FNV) PT Raised to $140.00 at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price boosted by stock analysts at Scotiabank from $139.00 to $140.00 in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price target would suggest a potential upside of 15.28% from the company’s current price.

A number of other research firms have also weighed in on FNV. TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Bank of America dropped their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Raymond James upped their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group began coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They issued a “hold” rating and a $117.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Franco-Nevada presently has an average rating of “Hold” and a consensus target price of $147.40.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $121.44 on Thursday. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $161.25. The firm has a market capitalization of $23.35 billion, a P/E ratio of -49.98, a price-to-earnings-growth ratio of 6.61 and a beta of 0.71. The company’s 50-day moving average is $114.12 and its 200 day moving average is $116.17.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The company had revenue of $303.30 million for the quarter. Research analysts anticipate that Franco-Nevada will post 2.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently modified their holdings of FNV. Norges Bank bought a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $221,351,000. Capital World Investors boosted its stake in Franco-Nevada by 45.8% in the fourth quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock valued at $495,909,000 after acquiring an additional 1,405,731 shares in the last quarter. Bank of America Corp DE boosted its stake in Franco-Nevada by 69.9% in the first quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company’s stock valued at $390,662,000 after acquiring an additional 1,102,710 shares in the last quarter. Quadrature Capital Ltd boosted its stake in Franco-Nevada by 170.6% in the fourth quarter. Quadrature Capital Ltd now owns 1,574,775 shares of the basic materials company’s stock valued at $174,750,000 after acquiring an additional 992,875 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Franco-Nevada by 67.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,218,938 shares of the basic materials company’s stock valued at $245,881,000 after acquiring an additional 895,612 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.