Franco-Nevada (NYSE:FNV) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective upped by equities researchers at Royal Bank of Canada from $145.00 to $155.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 8.54% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. UBS Group initiated coverage on shares of Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Scotiabank cut their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Jefferies Financial Group cut their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $146.71.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock traded down $0.40 on Tuesday, hitting $142.81. 254,998 shares of the company traded hands, compared to its average volume of 648,000. The business has a 50-day simple moving average of $125.59 and a 200 day simple moving average of $124.85. Franco-Nevada has a 52 week low of $103.64 and a 52 week high of $143.77. The stock has a market capitalization of $27.50 billion, a P/E ratio of -45.21, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors and hedge funds have recently made changes to their positions in FNV. Essex Financial Services Inc. lifted its stake in Franco-Nevada by 2.2% in the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock valued at $458,000 after buying an additional 84 shares during the last quarter. Harbour Investments Inc. grew its holdings in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares during the last quarter. Mutual Advisors LLC grew its holdings in Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock valued at $309,000 after purchasing an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC boosted its stake in shares of Franco-Nevada by 2.7% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after acquiring an additional 100 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after acquiring an additional 102 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

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.