Franco-Nevada (NYSE:FNV) Price Target Cut to $136.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective dropped by stock analysts at Jefferies Financial Group from $137.00 to $136.00 in a note issued to investors on Thursday, BayStreet.CA reports. The firm presently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 7.15% from the stock’s previous close.

Several other analysts have also recently weighed in on FNV. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Scotiabank raised their target price on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. HC Wainwright reissued a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a report on Friday, August 16th. Finally, Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

Franco-Nevada Trading Up 1.2 %

Shares of FNV traded up $1.51 during midday trading on Thursday, reaching $126.92. The stock had a trading volume of 201,500 shares, compared to its average volume of 648,494. The company has a market capitalization of $24.42 billion, a price-to-earnings ratio of -50.97, a price-to-earnings-growth ratio of 20.13 and a beta of 0.76. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $142.60. The company’s 50-day moving average is $123.16 and its 200 day moving average is $122.66.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). The business had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. Franco-Nevada’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. Research analysts forecast that Franco-Nevada will post 3.26 EPS for the current fiscal year.

Institutional Trading of Franco-Nevada

Several institutional investors and hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its holdings in Franco-Nevada by 0.5% during 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 acquiring an additional 64,429 shares in the last quarter. Van ECK Associates Corp raised its stake 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 buying an additional 151,566 shares in the last quarter. Vanguard Group Inc. lifted its holdings in 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 worth $878,696,000 after buying an additional 129,876 shares during the period. Capital World Investors boosted its position in Franco-Nevada by 2.7% during the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock valued at $547,807,000 after acquiring an additional 120,367 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Franco-Nevada by 1.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock valued at $386,597,000 after acquiring an additional 47,311 shares during the period. 77.06% of the stock is currently owned by 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.