Franco-Nevada (NYSE:FNV) Price Target Increased to $141.00 by Analysts at Raymond James

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective lifted by equities researchers at Raymond James from $138.00 to $141.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Raymond James’ price target indicates a potential upside of 19.44% from the stock’s current price.

Several other research firms have also recently commented on FNV. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Bank of America lowered their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Jefferies Financial Group assumed coverage on Franco-Nevada in a research report on Thursday, February 29th. They issued a “hold” rating and a $117.00 target price for the company. Finally, Scotiabank decreased their price target on Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating for the company in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $147.30.

Franco-Nevada Price Performance

FNV opened at $118.05 on Thursday. The stock’s 50 day moving average price is $112.92 and its 200 day moving average price is $116.63. The stock has a market cap of $22.69 billion, a P/E ratio of -48.58, a P/E/G ratio of 6.68 and a beta of 0.71. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The company had revenue of $303.30 million during the quarter. Equities analysts anticipate that Franco-Nevada will post 2.75 EPS for the current year.

Institutional Trading of Franco-Nevada

A number of hedge funds have recently modified their holdings of FNV. Norges Bank acquired a new position in Franco-Nevada during the fourth quarter valued at $221,351,000. Capital World Investors boosted its holdings in shares of Franco-Nevada by 45.8% during the fourth quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock worth $495,909,000 after purchasing an additional 1,405,731 shares during the period. Bank of America Corp DE grew its position in Franco-Nevada by 69.9% during the first quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company’s stock valued at $390,662,000 after purchasing an additional 1,102,710 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Franco-Nevada by 170.6% during the 4th quarter. Quadrature Capital Ltd now owns 1,574,775 shares of the basic materials company’s stock valued at $174,750,000 after buying an additional 992,875 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Franco-Nevada by 67.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,218,938 shares of the basic materials company’s stock valued at $245,881,000 after acquiring an additional 895,612 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.