Franco-Nevada (NYSE:FNV) Now Covered by BMO Capital Markets

Analysts at BMO Capital Markets began coverage on shares of Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) in a research report issued on Wednesday. The brokerage set an “outperform” rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the stock. HC Wainwright lifted their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, March 26th. UBS Group upped their target price on Franco-Nevada from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Raymond James increased their price objective on Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, April 7th. Finally, Scotiabank raised their price target on shares of Franco-Nevada from $150.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus price target of $162.25.

Get Our Latest Research Report on FNV

Franco-Nevada Trading Up 0.2 %

Shares of NYSE:FNV opened at $169.35 on Wednesday. The stock has a market cap of $32.61 billion, a PE ratio of -53.59, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. Franco-Nevada has a 1-year low of $112.70 and a 1-year high of $176.01. The stock’s fifty day simple moving average is $148.63 and its two-hundred day simple moving average is $133.32.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. On average, sell-side analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Covea Finance raised its stake in shares of Franco-Nevada by 2.7% during the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after purchasing an additional 2,700 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Franco-Nevada by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock worth $49,702,000 after acquiring an additional 16,029 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Franco-Nevada by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company’s stock valued at $113,200,000 after purchasing an additional 45,495 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 acquiring an additional 2,710 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Franco-Nevada during the fourth quarter valued at about $12,280,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

About Franco-Nevada

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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.

Further Reading

Analyst Recommendations for Franco-Nevada (NYSE:FNV)

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