HC Wainwright Has Lowered Expectations for Franco-Nevada (NYSE:FNV) Stock Price

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target cut by HC Wainwright from $200.00 to $155.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s target price would indicate a potential upside of 34.60% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Scotiabank lowered their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. UBS Group assumed coverage on shares of Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada Stock Performance

FNV stock opened at $115.16 on Friday. The company has a market cap of $22.17 billion, a price-to-earnings ratio of -36.44 and a beta of 0.72. The business’s 50-day moving average is $124.75 and its two-hundred day moving average is $123.32. Franco-Nevada has a fifty-two week low of $103.64 and a fifty-two week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same period in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. Equities analysts predict that Franco-Nevada will post 3.22 earnings per share for the current year.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently modified their holdings of FNV. Graham Capital Wealth Management LLC lifted its stake in Franco-Nevada by 0.4% in the 2nd quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock worth $2,511,000 after purchasing an additional 86 shares in the last quarter. Meixler Investment Management Ltd. lifted its position in shares of Franco-Nevada by 0.5% in the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after buying an additional 101 shares in the last quarter. Natixis Advisors LLC boosted its stake in Franco-Nevada by 0.5% during the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after buying an additional 101 shares during the last quarter. Huntington National Bank grew its holdings in Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after buying an additional 102 shares in the last quarter. Finally, Primoris Wealth Advisors LLC increased its stake in Franco-Nevada by 4.7% in the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after acquiring an additional 112 shares during the last quarter. Institutional investors 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.