Franco-Nevada (NYSE:FNV) Rating Increased to Buy at TD Cowen

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $291.00 target price on the basic materials company’s stock. TD Cowen’s price objective would indicate a potential upside of 30.75% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Zacks Research cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. HC Wainwright restated a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a research report on Wednesday, May 13th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday. Finally, Weiss Ratings upgraded Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average target price of $268.78.

Franco-Nevada Trading Down 1.3%

NYSE FNV opened at $222.56 on Wednesday. Franco-Nevada has a 12 month low of $152.89 and a 12 month high of $285.67. The stock has a market cap of $42.92 billion, a PE ratio of 31.35, a P/E/G ratio of 1.95 and a beta of 0.34. The stock’s 50 day moving average is $244.61 and its 200 day moving average is $232.27.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. During the same quarter last year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 76.6% compared to the same quarter last year. On average, analysts forecast that Franco-Nevada will post 8.84 EPS for the current fiscal year.

Institutional Trading of Franco-Nevada

Institutional investors have recently bought and sold shares of the stock. PFG Investments LLC increased its position in Franco-Nevada by 0.6% during the fourth quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after acquiring an additional 46 shares during the last quarter. Composition Wealth LLC boosted its stake in shares of Franco-Nevada by 0.8% during the 4th quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after purchasing an additional 49 shares during the period. Clark Capital Management Group Inc. boosted its stake in shares of Franco-Nevada by 1.0% during the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 50 shares during the period. Syon Capital LLC grew its holdings in Franco-Nevada by 2.1% during the 4th quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 51 shares during the last quarter. Finally, Guardian Partners Inc. grew its holdings in Franco-Nevada by 3.2% during the 4th quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 52 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.