Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, July 24th. The brokerage presently has a $83.00 price target on the basic materials company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 6.37% from the stock’s current price.
According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “
A number of other brokerages have also commented on FNV. BidaskClub lowered shares of Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Barclays PLC cut their price target on shares of Franco-Nevada Corporation from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, July 13th. TD Securities reiterated a “buy” rating on shares of Franco-Nevada Corporation in a report on Wednesday, May 10th. Raymond James Financial, Inc. restated an “outperform” rating and issued a $85.00 target price on shares of Franco-Nevada Corporation in a report on Thursday, June 15th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $64.00 target price (down previously from $65.00) on shares of Franco-Nevada Corporation in a report on Sunday, June 25th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Franco-Nevada Corporation currently has an average rating of “Buy” and an average target price of $78.89.
Shares of Franco-Nevada Corporation (NYSE FNV) opened at 78.03 on Monday. The company has a 50 day moving average price of $73.46 and a 200 day moving average price of $69.71. The company has a market cap of $14.47 billion, a P/E ratio of 98.40 and a beta of -0.03. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $79.67.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The firm had revenue of $163.60 million for the quarter, compared to analyst estimates of $164.62 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts expect that Franco-Nevada Corporation will post $0.99 earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its position in Franco-Nevada Corporation by 199.0% in the second quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock worth $109,000 after buying an additional 1,001 shares during the last quarter. Hexavest Inc. boosted its stake in shares of Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock worth $120,000 after buying an additional 559 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Franco-Nevada Corporation by 224.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,353 shares of the basic materials company’s stock worth $199,000 after buying an additional 2,320 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Franco-Nevada Corporation during the first quarter worth approximately $201,000. Finally, Blair William & Co. IL acquired a new stake in shares of Franco-Nevada Corporation during the second quarter worth approximately $210,000. Hedge funds and other institutional investors own 63.41% of the company’s stock.
About Franco-Nevada Corporation
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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