Franco-Nevada (NYSE:FNV) Rating Increased to Buy at Canaccord Genuity Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Monday,Briefing.com Automated Import reports.

Several other brokerages also recently weighed in on FNV. HC Wainwright increased their price target on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Jefferies Financial Group cut their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, Scotiabank reduced their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.57.

Franco-Nevada Trading Up 2.1 %

NYSE FNV opened at $116.36 on Monday. The stock has a market cap of $22.40 billion, a P/E ratio of -36.06, a P/E/G ratio of 19.22 and a beta of 0.75. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $137.60. The company has a fifty day simple moving average of $126.21 and a two-hundred day simple moving average of $123.96.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Franco-Nevada will post 3.22 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 FNV. Geode Capital Management LLC raised its holdings in Franco-Nevada by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 839,903 shares of the basic materials company’s stock worth $104,068,000 after purchasing an additional 54,329 shares during the period. Adalta Capital Management LLC increased its position in shares of Franco-Nevada by 8.2% in the third quarter. Adalta Capital Management LLC now owns 10,539 shares of the basic materials company’s stock valued at $1,309,000 after buying an additional 799 shares in the last quarter. Barclays PLC raised its stake in shares of Franco-Nevada by 29.4% during the 3rd quarter. Barclays PLC now owns 35,828 shares of the basic materials company’s stock worth $4,450,000 after buying an additional 8,147 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at approximately $12,216,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Franco-Nevada in the 3rd quarter valued at $601,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.