Franco-Nevada (NYSE:FNV) Given New $184.00 Price Target at Scotiabank

Key Points

• Scotiabank has raised its price target for Franco-Nevada (NYSE:FNV) from $182.00 to $184.00, indicating a potential upside of 3.71% from the stock's previous close.
• The stock is currently rated as a "Moderate Buy" with an average target price of $174.63, as assessed by multiple research analysts.
• Franco-Nevada reported earnings per share of $1.24 for the last quarter, surpassing the consensus estimate of $1.10, and its revenue increased 42.0% year-over-year.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV had its price target raised by investment analysts at Scotiabank from $182.00 to $184.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the basic materials company's stock. Scotiabank's target price points to a potential upside of 3.71% from the stock's previous close.

A number of other equities research analysts have also recently commented on FNV. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Royal Bank Of Canada lifted their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. HC Wainwright lifted their target price on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of "Moderate Buy" and an average target price of $174.63.

Franco-Nevada Stock Performance

NYSE FNV traded up $1.78 during mid-day trading on Tuesday, reaching $177.42. 327,273 shares of the stock were exchanged, compared to its average volume of 833,161. The business's 50 day moving average is $164.66 and its 200-day moving average is $157.90. Franco-Nevada has a 1 year low of $112.70 and a 1 year high of $179.99. The company has a market capitalization of $34.18 billion, a P/E ratio of 55.48, a P/E/G ratio of 2.29 and a beta of 0.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million for the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The company's revenue was up 42.0% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. Equities analysts predict that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Institutional Trading of Franco-Nevada

Institutional investors and hedge funds have recently bought and sold shares of the business. CX Institutional purchased a new position in Franco-Nevada during the 1st quarter worth $30,000. Cullen Frost Bankers Inc. purchased a new position in Franco-Nevada during the 1st quarter worth $32,000. MTM Investment Management LLC purchased a new position in Franco-Nevada during the 2nd quarter worth $32,000. Golden State Wealth Management LLC raised its position in Franco-Nevada by 78.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company's stock worth $34,000 after buying an additional 90 shares during the last quarter. Finally, Nexus Investment Management ULC purchased a new position in Franco-Nevada during the 1st quarter worth $35,000. 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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