Franco-Nevada (NYSE:FNV) Given New $286.00 Price Target at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price raised by Scotiabank from $283.00 to $286.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective indicates a potential upside of 13.40% from the stock’s current price.

A number of other research analysts have also commented on the stock. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Weiss Ratings cut Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 6th. UBS Group reiterated a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.25.

Franco-Nevada Trading Up 0.1%

Shares of FNV traded up $0.33 during mid-day trading on Monday, reaching $252.20. The company’s stock had a trading volume of 237,082 shares, compared to its average volume of 902,309. Franco-Nevada has a 1-year low of $140.03 and a 1-year high of $285.67. The business has a 50-day simple moving average of $250.76 and a two-hundred day simple moving average of $219.78. The stock has a market cap of $48.62 billion, a P/E ratio of 43.64, a PEG ratio of 3.65 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.18. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The business had revenue of $597.30 million for the quarter, compared to analysts’ expectations of $542.02 million. During the same quarter in the prior year, the business earned $0.95 EPS. The firm’s revenue for the quarter was up 86.1% on a year-over-year basis. Research analysts anticipate that Franco-Nevada will post 3.09 EPS for the current year.

Institutional Trading of Franco-Nevada

A number of institutional investors have recently modified their holdings of FNV. GAMMA Investing LLC grew its holdings in shares of Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 64 shares in the last quarter. Transamerica Financial Advisors LLC bought a new stake in Franco-Nevada during the fourth quarter worth about $25,000. Burkett Financial Services LLC acquired a new stake in Franco-Nevada during the third quarter worth about $28,000. Private Trust Co. NA acquired a new stake in Franco-Nevada during the fourth quarter worth about $29,000. Finally, Navalign LLC bought a new position in Franco-Nevada in the 4th quarter valued at about $34,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.