HC Wainwright Cuts Franco-Nevada (NYSE:FNV) Price Target to $155.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price decreased by HC Wainwright from $200.00 to $155.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price objective would indicate a potential upside of 34.60% from the company’s previous close.

A number of other analysts also recently issued reports on the company. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. UBS Group initiated coverage on shares of Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Jefferies Financial Group reduced 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 report on Thursday, October 17th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Trading Down 0.3 %

Shares of NYSE:FNV opened at $115.16 on Friday. The company has a market cap of $22.17 billion, a price-to-earnings ratio of -36.44 and a beta of 0.72. Franco-Nevada has a 12 month low of $103.64 and a 12 month high of $137.60. The company has a 50-day moving average price of $124.75 and a 200 day moving average price of $123.32.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) 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 negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. As a group, equities analysts forecast that Franco-Nevada will post 3.22 EPS for the current year.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently made changes to their positions in FNV. Mechanics Financial Corp raised its holdings in shares of Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 150 shares in the last quarter. Kings Path Partners LLC purchased a new position in Franco-Nevada during the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. raised its holdings in shares of Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 400 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada in the 3rd quarter worth approximately $52,000. Finally, Erste Asset Management GmbH bought a new position in shares of Franco-Nevada during the third quarter valued at approximately $55,000. 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.