Bank of America Increases Franco-Nevada (NYSE:FNV) Price Target to $142.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target boosted by stock analysts at Bank of America from $141.00 to $142.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Bank of America‘s target price would suggest a potential upside of 18.10% from the stock’s current price.

FNV has been the topic of a number of other reports. TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Jefferies Financial Group raised their price objective on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Scotiabank raised their price objective on Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. Raymond James raised their price objective on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Finally, HC Wainwright raised their price objective on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $149.30.

Franco-Nevada Trading Up 1.3 %

Shares of NYSE FNV opened at $120.24 on Wednesday. The stock has a market cap of $23.12 billion, a P/E ratio of -48.29, a PEG ratio of 26.58 and a beta of 0.77. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $149.06. The business’s fifty day simple moving average is $121.89 and its 200-day simple moving average is $115.22.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. The business had revenue of $256.80 million for the quarter, compared to analysts’ expectations of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. On average, equities analysts forecast that Franco-Nevada will post 3.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. VisionPoint Advisory Group LLC acquired a new position in Franco-Nevada in the 3rd quarter valued at $30,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Franco-Nevada during the 4th quarter worth $34,000. Allworth Financial LP increased its holdings in shares of Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after buying an additional 345 shares during the last quarter. Fortis Group Advisors LLC increased its holdings in shares of Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after buying an additional 176 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Franco-Nevada by 37.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after buying an additional 119 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

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.