Franco-Nevada (NYSE:FNV) Stock Rating Upgraded by Wall Street Zen

Key Points

• Franco-Nevada has been upgraded to a "buy" rating by Wall Street Zen, reflecting growing analyst confidence in the company's future performance.
• The company's stock recently rose by 5.6%, showing positive momentum in the market, with a current trading price of $213.77.
• Franco-Nevada reported earnings of $1.24 per share in its last quarter, surpassing estimates and marking a 42% increase in revenue compared to the previous year.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently issued reports on FNV. HC Wainwright increased their target price on Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. TD Securities raised their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Scotiabank raised their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. Raymond James Financial boosted their price objective on shares of Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.88.

Franco-Nevada Stock Up 0.1%

Shares of NYSE:FNV traded up $0.27 on Friday, reaching $214.20. The company had a trading volume of 487,555 shares, compared to its average volume of 822,601. Franco-Nevada has a twelve month low of $112.70 and a twelve month high of $218.58. The stock has a market capitalization of $41.28 billion, a P/E ratio of 52.63, a P/E/G ratio of 2.81 and a beta of 0.41. The stock has a 50-day moving average price of $178.36 and a 200 day moving average price of $168.06.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating the consensus estimate 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%.The company's revenue was up 42.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. On average, sell-side analysts predict that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

Several institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. raised its position in shares of Franco-Nevada by 10.3% in the first quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 64 shares during the period. Beacon Financial Group increased its position in Franco-Nevada by 1.0% during the second quarter. Beacon Financial Group now owns 7,169 shares of the basic materials company's stock worth $1,175,000 after acquiring an additional 72 shares during the period. Kiker Wealth Management LLC increased its position in Franco-Nevada by 20.5% during the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company's stock worth $77,000 after acquiring an additional 80 shares during the period. Confluence Investment Management LLC increased its position in Franco-Nevada by 1.5% during the first quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after acquiring an additional 84 shares during the period. Finally, Golden State Wealth Management LLC increased its position in Franco-Nevada by 78.3% during the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company's stock worth $34,000 after acquiring an additional 90 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

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.