Franco-Nevada (NYSE:FNV) Given New $170.00 Price Target at UBS Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective upped by UBS Group from $165.00 to $170.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price objective would indicate a potential upside of 16.93% from the company’s previous close.

A number of other research firms also recently commented on FNV. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, HC Wainwright upped their price target on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.86.

Franco-Nevada Trading Up 1.2 %

NYSE FNV traded up $1.77 during mid-day trading on Tuesday, reaching $145.38. 72,161 shares of the company’s stock traded hands, compared to its average volume of 612,946. Franco-Nevada has a 1-year low of $111.98 and a 1-year high of $150.23. The company has a fifty day simple moving average of $133.80 and a 200-day simple moving average of $127.30. The company has a market cap of $27.99 billion, a price-to-earnings ratio of -45.93, a P/E/G ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Equities research analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FNV. Norges Bank acquired a new stake in shares of Franco-Nevada during the 4th quarter valued at $237,643,000. EdgePoint Investment Group Inc. raised its position in shares of Franco-Nevada by 49.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock worth $582,100,000 after purchasing an additional 1,650,358 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Franco-Nevada by 246.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock valued at $136,796,000 after purchasing an additional 828,166 shares during the last quarter. Capital World Investors boosted its position in shares of Franco-Nevada by 9.8% in the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock valued at $934,106,000 after purchasing an additional 711,591 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Franco-Nevada by 76.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after purchasing an additional 556,894 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

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.