Franco-Nevada (NYSE:FNV) Raised to Buy at Canaccord Genuity Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Other analysts have also recently issued reports about the company. Jefferies Financial Group lowered their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Scotiabank lowered their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Franco-Nevada Trading Up 2.4 %

Franco-Nevada stock opened at $116.69 on Monday. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60. The company has a market cap of $22.46 billion, a PE ratio of -36.93, a PEG ratio of 19.22 and a beta of 0.75. The company’s 50-day moving average is $126.21 and its two-hundred day moving average is $123.96.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s revenue was down 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. Research analysts forecast that Franco-Nevada will post 3.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Franco-Nevada by 6.9% in the third quarter. Geode Capital Management LLC now owns 839,903 shares of the basic materials company’s stock valued at $104,068,000 after buying an additional 54,329 shares during the period. Adalta Capital Management LLC increased its stake in shares of Franco-Nevada by 8.2% in the third quarter. Adalta Capital Management LLC now owns 10,539 shares of the basic materials company’s stock valued at $1,309,000 after buying an additional 799 shares during the period. Barclays PLC increased its stake in shares of Franco-Nevada by 29.4% in the third quarter. Barclays PLC now owns 35,828 shares of the basic materials company’s stock valued at $4,450,000 after buying an additional 8,147 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Franco-Nevada in the third quarter valued at approximately $12,216,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Franco-Nevada in the third quarter valued at approximately $601,000. Institutional investors own 77.06% of the company’s stock.

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.