Bank of America Increases Franco-Nevada (NYSE:FNV) Price Target to $220.00

Key Points

• Bank of America has raised its price target for Franco-Nevada (NYSE:FNV) from $211.00 to $220.00, indicating a potential upside of 5.15% based on the company's previous closing price.
• Franco-Nevada recently reported a quarterly earnings per share (EPS) of $1.24, exceeding analyst expectations, along with a 42% increase in revenue compared to the same quarter last year.
• The stock currently holds a consensus rating of "Hold" from analysts, with six recommending a "Buy" and nine a "Hold," while its consensus target price is $199.75.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV had its price objective boosted by investment analysts at Bank of America from $211.00 to $220.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the basic materials company's stock. Bank of America's target price indicates a potential upside of 5.15% from the company's previous close.

A number of other equities research analysts have also issued reports on FNV. CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Canaccord Genuity Group lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Zacks Research lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Wall Street Zen lowered Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, UBS Group raised their target price on Franco-Nevada from $210.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $199.75.

Franco-Nevada Trading Up 0.2%

FNV opened at $209.22 on Thursday. The stock's 50-day moving average price is $197.69 and its 200 day moving average price is $175.59. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $225.63. The firm has a market cap of $40.32 billion, a price-to-earnings ratio of 51.41, a PEG ratio of 2.72 and a beta of 0.42.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. The company had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada's revenue for the quarter was up 42.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. On average, research analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Jeppson Wealth Management LLC purchased a new position in shares of Franco-Nevada in the 3rd quarter valued at approximately $202,000. DAVENPORT & Co LLC purchased a new position in shares of Franco-Nevada in the 3rd quarter valued at approximately $210,000. Net Worth Advisory Group purchased a new position in shares of Franco-Nevada in the 3rd quarter valued at approximately $220,000. Euro Pacific Asset Management LLC grew its stake in shares of Franco-Nevada by 2.4% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 234,129 shares of the basic materials company's stock valued at $48,829,000 after purchasing an additional 5,501 shares during the last quarter. Finally, Spinnaker Investment Group LLC purchased a new position in shares of Franco-Nevada in the 3rd quarter valued at approximately $274,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

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.

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