Scotiabank Raises Franco-Nevada (NYSE:FNV) Price Target to $140.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective raised by equities research analysts at Scotiabank from $139.00 to $140.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective would indicate a potential upside of 15.28% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Bank of America reduced their price target 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 began coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They issued a “hold” rating and a $117.00 price target on the stock. Finally, Raymond James upped their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of “Hold” and an average price target of $147.40.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $121.44 on Thursday. The company’s 50 day simple moving average is $114.12 and its 200-day simple moving average is $116.17. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of -49.98, a price-to-earnings-growth ratio of 6.61 and a beta of 0.71. Franco-Nevada has a 1 year low of $102.29 and a 1 year 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, beating analysts’ consensus estimates of $0.80 by $0.10. The business had revenue of $303.30 million for the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. Equities analysts expect that Franco-Nevada will post 2.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FNV. VisionPoint Advisory Group LLC acquired a new position in Franco-Nevada during the 3rd quarter worth approximately $30,000. Castleview Partners LLC acquired a new position in Franco-Nevada during the 3rd quarter worth approximately $33,000. Creative Financial Designs Inc. ADV acquired a new position in Franco-Nevada during the 4th quarter worth approximately $34,000. State of Wyoming acquired a new position in shares of Franco-Nevada in the 4th quarter valued at $38,000. Finally, Allworth Financial LP boosted its holdings in shares of Franco-Nevada by 5,750.0% in the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. 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.