Franco-Nevada (NYSE:FNV) Upgraded at Canaccord Genuity Group

Key Points

• Franco-Nevada was upgraded from a "hold" to a "strong-buy" rating by Canaccord Genuity Group, signaling increased analyst confidence in the stock.
• HC Wainwright and Bank of America have also raised their price targets for Franco-Nevada, with new targets set at $200.00 and $220.00, respectively.
• The company's quarterly earnings showed significant growth, reporting earnings per share of $1.24, exceeding expectations and reflecting a 42% revenue increase year-over-year.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV was upgraded by analysts at Canaccord Genuity Group from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. HC Wainwright increased their price objective on Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Zacks Research upgraded Franco-Nevada from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 17th. Wall Street Zen cut Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Finally, Bank of America raised their price target on Franco-Nevada from $211.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Franco-Nevada has an average rating of "Moderate Buy" and a consensus price target of $210.29.

Franco-Nevada Stock Performance

NYSE:FNV opened at $189.84 on Wednesday. The stock has a fifty day moving average price of $200.32 and a two-hundred day moving average price of $177.19. The stock has a market capitalization of $36.58 billion, a price-to-earnings ratio of 46.64, a PEG ratio of 1.81 and a beta of 0.42. Franco-Nevada has a 1 year low of $112.70 and a 1 year high of $225.63.

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 (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The firm had revenue of $369.40 million during the quarter, compared to analysts' expectations 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 was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. On average, analysts predict that Franco-Nevada will post 3.09 EPS for the current year.

Institutional Trading of Franco-Nevada

Large investors have recently made changes to their positions in the stock. MTM Investment Management LLC acquired a new stake in shares of Franco-Nevada during the second quarter valued at $32,000. Smartleaf Asset Management LLC boosted its stake in shares of Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Franco-Nevada during the first quarter valued at $32,000. Golden State Wealth Management LLC boosted its stake in shares of 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 valued at $34,000 after acquiring an additional 90 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

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.

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