Franco-Nevada (NYSE:FNV) Price Target Raised to $210.00

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV had its target price increased by equities research analysts at UBS Group from $205.00 to $210.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the basic materials company's stock. UBS Group's target price suggests a potential upside of 26.86% from the stock's current price.

A number of other analysts also recently issued reports on FNV. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Royal Bank Of Canada increased 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 report on Wednesday, June 4th. Scotiabank increased their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Finally, TD Securities lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price for the company. in a research report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.13.

Franco-Nevada Price Performance

Shares of FNV stock traded up $1.10 on Thursday, hitting $165.54. The stock had a trading volume of 395,450 shares, compared to its average volume of 747,510. The business has a 50 day moving average of $166.74 and a 200 day moving average of $150.83. The stock has a market cap of $31.89 billion, a price-to-earnings ratio of 51.73, a price-to-earnings-growth ratio of 2.26 and a beta of 0.41. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. During the same quarter last year, the company posted $0.76 earnings per share. The firm's quarterly revenue was up 43.5% compared to the same quarter last year. As a group, research analysts expect that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

A number of large investors have recently modified their holdings of FNV. Norges Bank purchased a new stake in Franco-Nevada in the fourth quarter valued at approximately $237,643,000. EdgePoint Investment Group Inc. raised its stake in Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after purchasing an additional 1,650,358 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock valued at $268,280,000 after purchasing an additional 1,133,373 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Franco-Nevada by 246.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after purchasing an additional 828,166 shares in the last quarter. Finally, Capital World Investors raised its stake in Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after purchasing an additional 711,591 shares in the last quarter. 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.