Franco-Nevada (NYSE:FNV) Given New $136.00 Price Target at Jefferies Financial Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target lowered by analysts at Jefferies Financial Group from $137.00 to $136.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 7.15% from the stock’s previous close.

Other research analysts have also issued research reports about the company. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Scotiabank boosted their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $152.75.

Franco-Nevada Stock Performance

NYSE:FNV traded up $1.51 during mid-day trading on Thursday, hitting $126.92. 201,500 shares of the company’s stock traded hands, compared to its average volume of 648,494. Franco-Nevada has a twelve month low of $102.29 and a twelve month high of $142.60. The company has a market capitalization of $24.42 billion, a P/E ratio of -50.97, a P/E/G ratio of 20.13 and a beta of 0.76. The company has a fifty day moving average of $123.16 and a 200 day moving average of $122.66.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. During the same quarter in the prior year, the company posted $0.95 EPS. The company’s revenue for the quarter was down 21.2% on a year-over-year basis. On average, research analysts expect that Franco-Nevada will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Franco-Nevada by 34.1% in the 4th quarter. Wellington Management Group LLP now owns 184,457 shares of the basic materials company’s stock worth $20,531,000 after acquiring an additional 46,876 shares during the last quarter. Vanguard Group Inc. lifted its stake in Franco-Nevada by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company’s stock worth $802,731,000 after acquiring an additional 139,826 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Franco-Nevada by 37.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 119 shares during the period. Gulf International Bank UK Ltd boosted its holdings in Franco-Nevada by 6.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 111 shares during the period. Finally, Birch Capital Management LLC purchased a new stake in Franco-Nevada during the first quarter worth about $94,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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.