Franco-Nevada (NYSE:FNV) Given New $137.00 Price Target at Jefferies Financial Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective upped by Jefferies Financial Group from $133.00 to $137.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 13.35% from the company’s current price.

FNV has been the topic of a number of other research reports. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Scotiabank boosted their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $152.88.

Franco-Nevada Price Performance

Shares of FNV stock opened at $120.86 on Friday. The business has a 50-day moving average of $123.39 and a 200 day moving average of $122.31. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $142.60. The stock has a market capitalization of $23.26 billion, a PE ratio of -48.54, a P/E/G ratio of 21.28 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The company had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. During the same period last year, the company posted $0.95 EPS. The business’s revenue for the quarter was down 21.2% compared to the same quarter last year. Analysts anticipate that Franco-Nevada will post 3.23 EPS for the current year.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors have recently added to or reduced their stakes in FNV. Massachusetts Financial Services Co. MA grew its position in shares of Franco-Nevada by 0.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock worth $1,456,208,000 after buying an additional 64,429 shares during the period. FIL Ltd boosted its stake in Franco-Nevada by 7.8% during the fourth quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock worth $1,005,852,000 after acquiring an additional 659,324 shares in the last quarter. Van ECK Associates Corp grew its holdings in Franco-Nevada by 1.8% in the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock worth $1,022,452,000 after purchasing an additional 151,566 shares during the period. Vanguard Group Inc. increased its stake in shares of Franco-Nevada by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock valued at $878,696,000 after purchasing an additional 129,876 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of Franco-Nevada by 2.7% during the first quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock valued at $547,807,000 after purchasing an additional 120,367 shares during the last quarter. 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.