Franco-Nevada (NYSE:FNV) Given New $141.00 Price Target at Scotiabank

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV had its price target boosted by research analysts at Scotiabank from $140.00 to $141.00 in a report released on Thursday, Benzinga reports. The firm currently has a "sector perform" rating on the basic materials company's stock. Scotiabank's price target would indicate a potential upside of 16.29% from the stock's previous close.

Several other equities analysts have also weighed in on the stock. Raymond James raised their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. Jefferies Financial Group raised their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a "hold" rating in a research note on Monday, April 22nd. Bank of America decreased their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a "buy" rating on the stock in a research note on Monday, March 18th. TheStreet cut Franco-Nevada from a "c+" rating to a "d+" rating in a report on Tuesday, March 5th. Finally, HC Wainwright lifted their price target on Franco-Nevada from $175.00 to $185.00 and gave the company a "buy" rating in a report on Monday, May 6th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $148.70.

Franco-Nevada Stock Down 2.6 %

FNV stock traded down $3.26 during trading on Thursday, hitting $121.25. 679,053 shares of the company's stock traded hands, compared to its average volume of 705,116. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $151.63. The stock has a fifty day moving average price of $121.22 and a two-hundred day moving average price of $114.65. The stock has a market capitalization of $23.32 billion, a price-to-earnings ratio of -48.69, a price-to-earnings-growth ratio of 29.12 and a beta of 0.71.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The company had revenue of $256.80 million during the quarter, compared to the consensus estimate of $250.50 million. During the same period in the prior year, the company earned $0.79 EPS. Franco-Nevada's revenue was down 7.1% on a year-over-year basis. As a group, equities research analysts expect that Franco-Nevada will post 3.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Franco-Nevada

Hedge funds have recently added to or reduced their stakes in the company. Wahed Invest LLC raised its stake in shares of Franco-Nevada by 7.7% during the 3rd quarter. Wahed Invest LLC now owns 1,377 shares of the basic materials company's stock valued at $185,000 after purchasing an additional 99 shares during the period. J.P. Morgan Private Wealth Advisors LLC raised its holdings in Franco-Nevada by 6.2% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,770 shares of the basic materials company's stock valued at $236,000 after acquiring an additional 104 shares during the period. Capital Asset Advisory Services LLC lifted its position in shares of Franco-Nevada by 0.4% in the fourth quarter. Capital Asset Advisory Services LLC now owns 29,408 shares of the basic materials company's stock valued at $3,259,000 after acquiring an additional 109 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Franco-Nevada by 0.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 29,408 shares of the basic materials company's stock worth $3,259,000 after buying an additional 109 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company's stock worth $52,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

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.