Franco-Nevada (NYSE:FNV) Lifted to Buy at TD Securities

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by research analysts at TD Securities from a “hold” rating to a “buy” rating in a research note issued on Thursday, Benzinga reports.

A number of other brokerages also recently issued reports on FNV. Jefferies Financial Group increased their target price on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. HC Wainwright boosted their target price on shares of Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. StockNews.com downgraded shares of Franco-Nevada from a “hold” rating to a “sell” rating in a report on Wednesday. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Bank of America increased their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $152.33.

Franco-Nevada Stock Performance

Franco-Nevada stock traded up $2.76 during mid-day trading on Thursday, reaching $119.71. 469,653 shares of the company were exchanged, compared to its average volume of 667,360. Franco-Nevada has a twelve month low of $102.29 and a twelve month high of $146.43. The firm’s 50-day simple moving average is $122.06 and its two-hundred day simple moving average is $118.69. The firm has a market cap of $23.04 billion, a PE ratio of -48.16, a price-to-earnings-growth ratio of 21.14 and a beta of 0.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The firm’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, equities research analysts anticipate that Franco-Nevada will post 3.27 EPS for the current year.

Hedge Funds Weigh In On Franco-Nevada

Several large investors have recently added to or reduced their stakes in FNV. International Assets Investment Management LLC acquired a new stake in shares of Franco-Nevada in the fourth quarter worth approximately $3,447,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Franco-Nevada by 50.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 183,135 shares of the basic materials company’s stock valued at $20,384,000 after acquiring an additional 61,354 shares during the period. Euro Pacific Asset Management LLC increased its stake in Franco-Nevada by 20.7% during the fourth quarter. Euro Pacific Asset Management LLC now owns 129,779 shares of the basic materials company’s stock worth $14,380,000 after acquiring an additional 22,243 shares during the last quarter. Duality Advisers LP purchased a new position in shares of Franco-Nevada in the 4th quarter worth about $2,538,000. Finally, Significant Wealth Partners LLC acquired a new position in shares of Franco-Nevada in the 4th quarter valued at about $780,000. 77.06% of the stock is currently 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.