UBS Group Initiates Coverage on Franco-Nevada (NYSE:FNV)

Analysts at UBS Group assumed coverage on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a research note issued on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $160.00 price target on the basic materials company’s stock. UBS Group’s price objective would suggest a potential upside of 31.94% from the company’s current price.

A number of other equities research analysts have also weighed in on FNV. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Scotiabank lowered their price target on shares of 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. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday. Jefferies Financial Group decreased their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, HC Wainwright increased their target price on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.00.

Franco-Nevada Stock Up 2.4 %

FNV opened at $121.27 on Monday. The business’s fifty day simple moving average is $126.17 and its 200 day simple moving average is $123.93. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $137.60. The stock has a market cap of $23.34 billion, a PE ratio of -38.38, a P/E/G ratio of 19.22 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm had revenue of $275.70 million for 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%. Franco-Nevada’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. As a group, equities analysts anticipate that Franco-Nevada will post 3.22 earnings per share for the current year.

Institutional Investors Weigh In On Franco-Nevada

Large investors have recently made changes to their positions in the business. Mechanics Financial Corp raised its holdings in shares of Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. bought a new stake in Franco-Nevada in the second quarter valued at $33,000. Kings Path Partners LLC purchased a new position in Franco-Nevada during the 2nd quarter valued at $36,000. Sunbelt Securities Inc. raised its holdings in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 400 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada in the 3rd quarter worth about $52,000. 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.