Franco-Nevada (NYSE:FNV) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Franco-Nevada has been upgraded to a "buy" rating from a "hold" rating by Wall Street Zen, highlighting increased confidence in the stock.
• Several analysts have raised their target prices for Franco-Nevada, with Raymond James and Royal Bank of Canada setting targets at $188.00 and $190.00, respectively.
• The company's recent quarterly earnings surpassed expectations, reporting $1.24 EPS against an estimate of $1.10, demonstrating strong performance with a net margin of 58.82%.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Sunday.

A number of other research analysts also recently issued reports on the stock. Raymond James Financial upped their target price 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. Royal Bank Of Canada upped their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Zacks Research downgraded shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. HC Wainwright upped their target price on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, CIBC restated an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $178.88.

Franco-Nevada Stock Up 1.7%

Shares of NYSE FNV opened at $184.9210 on Friday. The firm's 50-day simple moving average is $166.18 and its 200 day simple moving average is $160.45. The company has a market cap of $35.63 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 2.46 and a beta of 0.36. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $186.12.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results 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. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business had revenue of $369.40 million for the quarter, compared to the consensus estimate of $382.70 million. During the same quarter in the prior year, the company earned $0.75 EPS. The firm's quarterly revenue was up 42.0% on a year-over-year basis. On average, equities analysts expect that Franco-Nevada will post 3.09 earnings per share for the current year.

Institutional Trading of Franco-Nevada

Hedge funds have recently modified their holdings of the company. CX Institutional acquired a new stake in shares of Franco-Nevada in the 1st quarter valued at approximately $30,000. MTM Investment Management LLC bought a new stake in Franco-Nevada during the 2nd quarter worth approximately $32,000. Smartleaf Asset Management LLC increased its stake in Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company's stock worth $32,000 after purchasing an additional 168 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada during the 1st quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC increased its stake 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 purchasing an additional 90 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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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