UBS Group Initiates Coverage on Franco-Nevada (NYSE:FNV)

Stock analysts at UBS Group began coverage on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a note issued to investors on Monday,Finviz reports. The brokerage set a “buy” rating and a $160.00 price target on the basic materials company’s stock. UBS Group’s price objective suggests a potential upside of 37.12% from the company’s current price.

FNV has been the subject of several other research reports. Scotiabank decreased their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday. HC Wainwright raised their price target on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group decreased their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Franco-Nevada Stock Performance

NYSE:FNV opened at $116.69 on Monday. The stock has a market capitalization of $22.46 billion, a P/E ratio of -36.93, a PEG ratio of 19.22 and a beta of 0.75. The company has a 50 day moving average price of $126.21 and a 200 day moving average price of $123.96. Franco-Nevada has a fifty-two week low of $102.29 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 for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. Research analysts forecast that Franco-Nevada will post 3.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. M&G PLC increased its holdings in shares of Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after acquiring an additional 51,996 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after acquiring an additional 706,919 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after acquiring an additional 424,810 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Franco-Nevada by 44.4% in the 1st quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company’s stock valued at $7,576,000 after acquiring an additional 19,551 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Franco-Nevada by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 155,836 shares of the basic materials company’s stock valued at $18,472,000 after acquiring an additional 6,202 shares during the last quarter. Hedge funds and other 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.