Bank of America Increases Franco-Nevada (NYSE:FNV) Price Target to $220.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective upped by analysts at Bank of America from $211.00 to $220.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. Bank of America‘s target price points to a potential upside of 7.94% from the stock’s current price.

FNV has been the topic of several other research reports. CIBC restated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Raymond James Financial raised their price target on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. UBS Group raised their price target on shares of Franco-Nevada from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Scotiabank raised their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $210.29.

Franco-Nevada Price Performance

NYSE:FNV opened at $203.81 on Thursday. The firm has a market capitalization of $39.28 billion, a P/E ratio of 50.08, a PEG ratio of 2.79 and a beta of 0.42. Franco-Nevada has a 1-year low of $112.70 and a 1-year high of $225.63. The company’s fifty day moving average price is $199.22 and its 200-day moving average price is $176.31.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The firm had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. Equities analysts anticipate that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MTM Investment Management LLC purchased a new position in Franco-Nevada during the second quarter valued at $32,000. Smartleaf Asset Management LLC lifted its stake in shares of Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Franco-Nevada in the first quarter worth about $32,000. Golden State Wealth Management LLC lifted its stake in shares of Franco-Nevada by 78.3% in the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after buying an additional 90 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after buying an additional 188 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.