Franco-Nevada (NYSE:FNV) Price Target Raised to $140.00 at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective upped by equities researchers at Scotiabank from $139.00 to $140.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price would suggest a potential upside of 14.60% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Bank of America lowered their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Jefferies Financial Group initiated coverage on Franco-Nevada in a report on Thursday, February 29th. They set a “hold” rating and a $117.00 price target on the stock. Raymond James raised their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Finally, TheStreet lowered Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Hold” and a consensus price target of $147.40.

Franco-Nevada Stock Performance

Shares of FNV traded up $1.69 during midday trading on Thursday, hitting $122.16. 130,826 shares of the stock were exchanged, compared to its average volume of 737,120. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $161.25. The stock has a fifty day simple moving average of $113.60 and a 200 day simple moving average of $116.20. The firm has a market cap of $23.49 billion, a P/E ratio of -49.91, a P/E/G ratio of 6.42 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $303.30 million for the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. As a group, equities research analysts forecast that Franco-Nevada will post 2.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FNV. Sheets Smith Wealth Management purchased a new stake in shares of Franco-Nevada during the 1st quarter valued at $238,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Franco-Nevada during the 3rd quarter valued at $30,000. Castleview Partners LLC purchased a new stake in Franco-Nevada during the 3rd quarter worth $33,000. State of Wyoming purchased a new position in Franco-Nevada in the 4th quarter valued at about $38,000. Finally, Penserra Capital Management LLC acquired a new position in Franco-Nevada in the first quarter worth about $47,000. 77.06% of the stock is currently 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.