StockNews.com Begins Coverage on Franco-Nevada (NYSE:FNV)

Equities research analysts at StockNews.com began coverage on shares of Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) in a report issued on Thursday. The brokerage set a “hold” rating on the basic materials company’s stock.

FNV has been the subject of a number of other reports. Stifel Nicolaus cut Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Barclays lifted their target price on Franco-Nevada from $111.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, January 30th. National Bank Financial lifted their target price on Franco-Nevada from C$190.00 to C$200.00 in a research note on Friday, January 13th. CIBC lifted their target price on Franco-Nevada from C$230.00 to C$240.00 in a research note on Tuesday, February 7th. Finally, Raymond James lowered their target price on Franco-Nevada from $167.00 to $158.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $166.57.

Franco-Nevada Price Performance

FNV stock opened at $135.49 on Thursday. The business has a fifty day moving average price of $138.58 and a 200 day moving average price of $132.40. Franco-Nevada has a fifty-two week low of $109.70 and a fifty-two week high of $169.32. The stock has a market capitalization of $26.00 billion, a price-to-earnings ratio of 34.30, a P/E/G ratio of 9.42 and a beta of 0.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of Franco-Nevada by 18.4% in the third quarter. IFP Advisors Inc now owns 3,223 shares of the basic materials company’s stock valued at $230,000 after acquiring an additional 500 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Franco-Nevada by 7.5% during the third quarter. Rockefeller Capital Management L.P. now owns 2,276 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 159 shares during the last quarter. WMS Partners LLC increased its holdings in shares of Franco-Nevada by 57.7% during the third quarter. WMS Partners LLC now owns 3,513 shares of the basic materials company’s stock worth $420,000 after buying an additional 1,286 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Franco-Nevada by 44.2% during the second quarter. BNP Paribas Arbitrage SA now owns 23,006 shares of the basic materials company’s stock worth $3,027,000 after buying an additional 7,049 shares in the last quarter. Finally, Seven Eight Capital LP increased its holdings in shares of Franco-Nevada by 80.7% during the third quarter. Seven Eight Capital LP now owns 6,603 shares of the basic materials company’s stock worth $789,000 after buying an additional 2,949 shares in the last quarter. 66.69% of the stock is currently owned by institutional investors.

Franco-Nevada Company Profile

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Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.