Franco-Nevada Corporation (NYSE:FNV) Raised to Buy at Zacks Investment Research

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, July 24th. The firm presently has a $83.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 6.88% from the stock’s previous close.

According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “

Several other analysts have also commented on the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $64.00 price target (down previously from $65.00) on shares of Franco-Nevada Corporation in a research report on Sunday, June 25th. ValuEngine upgraded shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Credit Suisse Group set a $80.00 target price on shares of Franco-Nevada Corporation and gave the company a “buy” rating in a report on Wednesday, June 14th. Finally, Scotiabank lifted their target price on shares of Franco-Nevada Corporation from $45.00 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 11th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $78.89.

Franco-Nevada Corporation (NYSE:FNV) traded up 0.328% on Monday, hitting $77.915. The stock had a trading volume of 538,205 shares. The firm’s 50 day moving average price is $72.65 and its 200-day moving average price is $69.09. Franco-Nevada Corporation has a 12 month low of $53.31 and a 12 month high of $80.00. The stock has a market cap of $14.21 billion, a PE ratio of 99.891 and a beta of -0.03.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $163.60 million for the quarter, compared to analyst estimates of $164.62 million. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. On average, analysts forecast that Franco-Nevada Corporation will post $0.98 EPS for the current year.

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Several institutional investors have recently bought and sold shares of the company. Hexavest Inc. increased its position in Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after buying an additional 559 shares during the period. Gluskin Sheff & Assoc Inc. acquired a new position in Franco-Nevada Corporation during the first quarter valued at approximately $225,000. Schroder Investment Management Group acquired a new position in Franco-Nevada Corporation during the first quarter valued at approximately $222,000. Blair William & Co. IL acquired a new position in Franco-Nevada Corporation during the second quarter valued at approximately $210,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Franco-Nevada Corporation during the first quarter valued at approximately $201,000. Institutional investors and hedge funds own 63.49% of the company’s stock.

Franco-Nevada Corporation Company Profile

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.

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