Franco-Nevada (NYSE:FNV) Raised to Buy at Canaccord Genuity Group

Key Points

• Canaccord Genuity upgraded Franco‑Nevada from "hold" to "buy", joining other firms that have recently raised or reaffirmed positive ratings; overall consensus is a "Moderate Buy" with an average target price of $257.25 (eight Buy vs. six Hold).
• The company reported a strong quarter, beating EPS estimates ($1.85 vs. $1.67) and reporting revenue of $597.3 million—an 86.1% year‑over‑year increase.
• Shares traded at $231.90 on the day of the report, with a 52‑week range of $152.89–$285.67, a market cap of $44.72 billion and a P/E of 40.17.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV was upgraded by investment analysts at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

FNV has been the subject of a number of other research reports. Scotiabank increased their price objective on Franco-Nevada from $283.00 to $286.00 and gave the company a "sector perform" rating in a research report on Monday, March 16th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Sunday. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. UBS Group reissued a "buy" rating and set a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Finally, Weiss Ratings raised shares of Franco-Nevada from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, March 20th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently has an average rating of "Moderate Buy" and an average target price of $257.25.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded down $0.53 on Wednesday, reaching $231.90. 286,264 shares of the company traded hands, compared to its average volume of 868,273. Franco-Nevada has a fifty-two week low of $152.89 and a fifty-two week high of $285.67. The company's 50 day moving average is $253.85 and its 200-day moving average is $229.24. The stock has a market capitalization of $44.72 billion, a PE ratio of 40.17, a P/E/G ratio of 2.58 and a beta of 0.47.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.18. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The company had revenue of $597.30 million during the quarter, compared to the consensus estimate of $542.02 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The company's quarterly revenue was up 86.1% compared to the same quarter last year. As a group, analysts expect that Franco-Nevada will post 7.82 EPS for the current year.

Hedge Funds Weigh In On Franco-Nevada

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company's stock worth $25,000 after acquiring an additional 64 shares during the last quarter. Transamerica Financial Advisors LLC acquired a new position in shares of Franco-Nevada in the fourth quarter worth $25,000. Burkett Financial Services LLC acquired a new position in shares of Franco-Nevada in the third quarter worth $28,000. Private Trust Co. NA acquired a new position in shares of Franco-Nevada in the fourth quarter worth $29,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company's stock worth $32,000 after acquiring an additional 168 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company's business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.

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