Franco-Nevada (NYSE:FNV) Price Target Raised to $140.00 at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target hoisted by research analysts at Scotiabank from $139.00 to $140.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective indicates a potential upside of 14.60% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Raymond James upped their target price on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Bank of America decreased their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Finally, Jefferies Financial Group started coverage on Franco-Nevada in a report on Thursday, February 29th. They set a “hold” rating and a $117.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $147.40.

Franco-Nevada Price Performance

NYSE:FNV traded up $1.69 during trading hours on Thursday, hitting $122.16. The stock had a trading volume of 130,826 shares, compared to its average volume of 737,120. The company has a 50 day simple moving average of $113.60 and a two-hundred day simple moving average of $116.20. Franco-Nevada has a one year low of $102.29 and a one year high of $161.25. The firm has a market capitalization of $23.49 billion, a price-to-earnings ratio of -49.91, a P/E/G ratio of 6.42 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The firm had revenue of $303.30 million during the quarter. Equities research analysts anticipate that Franco-Nevada will post 2.76 earnings per share for the current year.

Institutional Investors Weigh In On Franco-Nevada

A number of institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Franco-Nevada by 1.3% in the third quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock worth $2,211,558,000 after acquiring an additional 208,392 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Franco-Nevada by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,008,095 shares of the basic materials company’s stock valued at $1,219,807,000 after buying an additional 566,539 shares during the last quarter. FIL Ltd boosted its position in shares of Franco-Nevada by 7.8% during the fourth quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock valued at $1,005,852,000 after buying an additional 659,324 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Franco-Nevada by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock valued at $972,707,000 after buying an additional 789,070 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Franco-Nevada by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company’s stock valued at $802,731,000 after buying an additional 139,826 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

About Franco-Nevada

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.