Franco-Nevada (NYSE:FNV) Stock Keeps “Buy” Rating at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $305.00 target price on the basic materials company’s stock. HC Wainwright‘s price target points to a potential upside of 22.78% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada boosted their price objective on shares of Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Finally, Weiss Ratings raised Franco-Nevada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $275.30.

Franco-Nevada Price Performance

Shares of FNV stock opened at $248.41 on Thursday. The stock’s fifty day moving average price is $248.48 and its 200 day moving average price is $240.07. Franco-Nevada has a 1-year low of $188.47 and a 1-year high of $285.67. The company has a market cap of $47.92 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 2.97 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, November 11th. The basic materials company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.12. The business had revenue of $549.30 million during the quarter, compared to the consensus estimate of $568.44 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $1.43 earnings per share. As a group, equities research analysts anticipate that Franco-Nevada will post 7.40 earnings per share for the current year.

Institutional Trading of Franco-Nevada

Several large investors have recently made changes to their positions in the business. EdgePoint Investment Group Inc. increased its stake in shares of Franco-Nevada by 3.3% in the first quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock worth $857,196,000 after acquiring an additional 110,222 shares during the period. Deutsche Bank AG purchased a new position in shares of Franco-Nevada during the second quarter worth $372,435,000. Beutel Goodman & Co Ltd. lifted its position in Franco-Nevada by 61.0% during the third quarter. Beutel Goodman & Co Ltd. now owns 1,308,824 shares of the basic materials company’s stock valued at $312,329,000 after purchasing an additional 495,794 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Franco-Nevada in the second quarter valued at $254,515,000. Finally, Amundi grew its position in Franco-Nevada by 4.4% during the 1st quarter. Amundi now owns 1,191,417 shares of the basic materials company’s stock worth $294,340,000 after purchasing an additional 50,455 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Company Profile

Franco-Nevada is a Toronto-based company that provides financing to mining and energy businesses in exchange for royalties, streams and other interests in production. Rather than operating mines itself, it gives partners capital and receives a share of revenue or future output from their projects. The company’s portfolio is focused on gold and other precious metals, and also includes interests in other minerals and energy assets, including oil and gas. Its projects and counterparties span multiple regions, including North and South America, Africa, Australia and Europe.