Franco-Nevada (TSE:FNV) Price Target Raised to C$390.00

Key Points

• Stifel Nicolaus raised its price target on Franco-Nevada to C$390 from C$380, implying about 39.4% upside from the current share price.
• Other firms have also turned more bullish, including multiple upgrades to Strong Buy; Franco-Nevada now has a consensus rating of Strong Buy with an average price target of C$356.56.
• The stock traded at C$279.70 on Friday, with the company reporting strong recent results, including C$3.31 EPS and C$904.66 million in quarterly revenue.

Franco-Nevada (TSE:FNV - Get Free Report) NYSE: FNV had its price target hoisted by stock analysts at Stifel Nicolaus from C$380.00 to C$390.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Stifel Nicolaus' price objective would indicate a potential upside of 39.44% from the stock's current price.

Several other analysts have also recently issued reports on the company. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 29th. BMO Capital Markets upped their price target on Franco-Nevada from C$370.00 to C$410.00 in a research report on Wednesday, April 22nd. National Bank Financial upgraded Franco-Nevada from a "hold" rating to a "strong-buy" rating and increased their price objective for the stock from C$410.00 to C$420.00 in a report on Wednesday, May 13th. Finally, TD Securities upgraded Franco-Nevada from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 20th. Three research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of "Strong Buy" and a consensus price target of C$356.56.

Franco-Nevada Stock Performance

TSE:FNV traded up C$1.05 during midday trading on Friday, reaching C$279.70. 132,842 shares of the stock traded hands, compared to its average volume of 389,180. The stock has a market capitalization of C$53.94 billion, a P/E ratio of 39.39, a PEG ratio of 5.00 and a beta of 0.96. The company has a fifty day moving average of C$306.57 and a 200 day moving average of C$326.86. Franco-Nevada has a 12 month low of C$211.53 and a 12 month high of C$388.22.

Franco-Nevada (TSE:FNV - Get Free Report) NYSE: FNV last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$3.31 earnings per share (EPS) for the quarter. Franco-Nevada had a net margin of 65.14% and a return on equity of 18.67%. The business had revenue of C$904.66 million for the quarter. On average, analysts predict that Franco-Nevada will post 3.1114111 EPS for the current fiscal year.

About Franco-Nevada

Franco-Nevada Corp is a precious-metals-focused royalty and investment company. The company owns a diversified portfolio of precious metals and royalty streams, which is actively managed to generate the bulk of its revenue from gold, silver, and platinum. The company does not operate mines, develop projects, or conduct exploration. Franco-Nevada's short-term financial performance is linked to the price of commodities and the amount of production from its portfolio of producing assets. Its long-term performance is affected by the availability of exploration and development capital.

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