Franco-Nevada (NYSE:FNV) Stock Price Expected to Rise, HC Wainwright Analyst Says

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective boosted by analysts at HC Wainwright from $285.00 to $305.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s target price indicates a potential upside of 21.30% from the company’s current price.

FNV has been the topic of a number of other reports. Scotiabank upped their price target on Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Weiss Ratings cut Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $228.00 price objective on shares of Franco-Nevada in a report on Sunday, December 7th. UBS Group reissued a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Finally, Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $225.00 to $250.00 in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus price target of $256.88.

Franco-Nevada Price Performance

Shares of FNV opened at $251.45 on Thursday. The firm has a 50-day simple moving average of $250.76 and a two-hundred day simple moving average of $219.31. The stock has a market cap of $48.48 billion, a PE ratio of 43.65, a P/E/G ratio of 3.48 and a beta of 0.45. Franco-Nevada has a 1-year low of $140.03 and a 1-year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.67 by $0.18. The firm had revenue of $597.30 million for the quarter, compared to analyst estimates of $542.02 million. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The business’s revenue for the quarter was up 86.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. As a group, sell-side analysts expect that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Franco-Nevada

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of Franco-Nevada by 112.3% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after buying an additional 64 shares during the period. Transamerica Financial Advisors LLC purchased a new stake in shares of Franco-Nevada during the fourth quarter worth approximately $25,000. Burkett Financial Services LLC purchased a new stake in shares of Franco-Nevada during the third quarter worth approximately $28,000. Private Trust Co. NA acquired a new stake in Franco-Nevada in the fourth quarter valued at approximately $29,000. Finally, MTM Investment Management LLC acquired a new stake in Franco-Nevada in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.