Franco-Nevada (NYSE:FNV) Price Target Cut to $141.00 by Analysts at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target reduced by research analysts at Scotiabank from $142.00 to $141.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price target would indicate a potential upside of 11.58% from the stock’s previous close.

Several other equities research analysts have also recently commented on FNV. Jefferies Financial Group lowered their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. HC Wainwright upped their price objective on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $156.57.

Franco-Nevada Trading Down 4.4 %

NYSE FNV opened at $126.37 on Friday. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $137.60. The stock’s 50 day moving average is $126.65 and its two-hundred day moving average is $124.10. The company has a market capitalization of $24.33 billion, a price-to-earnings ratio of -39.99, a PEG ratio of 22.08 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, analysts predict that Franco-Nevada will post 3.25 earnings per share for the current year.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors have recently modified their holdings of FNV. Allspring Global Investments Holdings LLC acquired a new position in shares of Franco-Nevada in the second quarter valued at approximately $276,446,000. M&G Plc acquired a new stake in shares of Franco-Nevada during the 1st quarter worth approximately $219,971,000. EdgePoint Investment Group Inc. grew its holdings in Franco-Nevada by 68.1% in the first quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after purchasing an additional 1,117,523 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after buying an additional 706,919 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after acquiring an additional 424,810 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

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.