HC Wainwright Reiterates Buy Rating for Franco-Nevada (NYSE:FNV)

Franco-Nevada (NYSE:FNV) (TSE:FNV)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $155.00 target price on the basic materials company’s stock. HC Wainwright’s target price would suggest a potential upside of 18.41% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Scotiabank reduced their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. 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 research report on Tuesday, October 1st. Jefferies Financial Group reduced their target price 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 shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $130.90 on Tuesday. The firm has a market cap of $25.20 billion, a P/E ratio of -41.42, a price-to-earnings-growth ratio of 7.08 and a beta of 0.72. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $137.60. The firm’s 50-day simple moving average is $122.89 and its 200-day simple moving average is $124.12.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. On average, equities analysts forecast that Franco-Nevada will post 3.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Franco-Nevada

A number of institutional investors and hedge funds have recently modified their holdings of the business. Covea Finance increased its stake in Franco-Nevada by 2.7% in the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after purchasing an additional 2,700 shares in the last quarter. M&G PLC increased its stake in Franco-Nevada by 3.2% in the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after purchasing an additional 51,996 shares in the last quarter. Telemark Asset Management LLC increased its stake in Franco-Nevada by 66.7% in the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $6,212,000 after purchasing an additional 20,000 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its stake in Franco-Nevada by 1.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after purchasing an additional 17,232 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Franco-Nevada by 13.9% in the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

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.