Franco-Nevada (NYSE:FNV) Given New $300.00 Price Target at Royal Bank Of Canada

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective upped by investment analysts at Royal Bank Of Canada from $285.00 to $300.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 14.25% from the company’s current price.

A number of other brokerages have also recently commented on FNV. Jefferies Financial Group reduced their price objective on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Scotiabank reduced their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Bank of America lowered their price objective on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Finally, Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $274.90.

Franco-Nevada Price Performance

Shares of FNV stock traded down $0.51 on Wednesday, reaching $262.58. 264,935 shares of the company were exchanged, compared to its average volume of 850,145. The company has a 50-day moving average of $236.38 and a 200-day moving average of $236.69. The company has a market cap of $50.64 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 2.42 and a beta of 0.39. Franco-Nevada has a one year low of $181.50 and a one year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. During the same period in the previous year, the firm earned $1.24 earnings per share. The business’s quarterly revenue was up 57.3% on a year-over-year basis. As a group, sell-side analysts predict that Franco-Nevada will post 7.54 EPS for the current year.

Hedge Funds Weigh In On Franco-Nevada

Several large investors have recently bought and sold shares of FNV. Van ECK Associates Corp grew its stake in shares of Franco-Nevada by 12.8% in the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after acquiring an additional 842,132 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of Franco-Nevada by 3.3% during the first quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock valued at $857,196,000 after purchasing an additional 110,222 shares in the last quarter. Norges Bank bought a new position in shares of Franco-Nevada during the fourth quarter valued at about $578,577,000. Geode Capital Management LLC lifted its position in shares of Franco-Nevada by 11.4% during the fourth quarter. Geode Capital Management LLC now owns 1,932,148 shares of the basic materials company’s stock valued at $412,395,000 after purchasing an additional 197,567 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Franco-Nevada by 30.7% during the fourth quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company’s stock worth $391,638,000 after purchasing an additional 443,839 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Company Profile

Franco-Nevada Corporation (NYSE: FNV) is a Canada-based royalty and streaming company focused primarily on precious metals. Rather than operating mines, the company provides upfront capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from designated assets.

Its portfolio is anchored by gold royalties and streams, with additional exposure to silver, platinum group metals and other mined commodities. Franco-Nevada also holds interests in certain energy assets, including oil and natural gas royalties.