Franco-Nevada (NYSE:FNV) Price Target Raised to $181.00 at Raymond James

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price increased by equities research analysts at Raymond James from $162.00 to $181.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Raymond James’ price objective suggests a potential upside of 22.26% from the company’s current price.

Other research analysts have also issued reports about the stock. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, March 11th. HC Wainwright upped their price target on Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. Scotiabank raised their price objective on Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. UBS Group boosted their target price on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada raised their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $157.88.

Franco-Nevada Price Performance

Shares of FNV stock traded down $10.68 during trading hours on Friday, reaching $148.04. 1,009,782 shares of the company’s stock were exchanged, compared to its average volume of 661,712. The company’s 50 day moving average is $144.90 and its two-hundred day moving average is $131.43. The company has a market cap of $28.51 billion, a P/E ratio of -46.76, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada has a 1 year low of $112.70 and a 1 year high of $161.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter in the prior year, the business posted $0.90 earnings per share. Franco-Nevada’s revenue was up 5.8% compared to the same quarter last year. As a group, analysts predict that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

Institutional investors have recently added to or reduced their stakes in the business. Covea Finance grew its holdings in Franco-Nevada by 2.7% in the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after buying an additional 2,700 shares during the period. Charles Schwab Investment Management Inc. increased its position in Franco-Nevada by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock worth $49,702,000 after purchasing an additional 16,029 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Franco-Nevada by 113.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock worth $601,000 after purchasing an additional 2,710 shares during the last quarter. Tri Ri Asset Management Corp purchased a new position in Franco-Nevada during the third quarter worth approximately $3,433,000. Finally, Horizon Kinetics Asset Management LLC boosted its holdings in shares of Franco-Nevada by 5.6% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 988,033 shares of the basic materials company’s stock valued at $116,183,000 after purchasing an additional 52,199 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.