Franco-Nevada’s (FNV) Buy Rating Reaffirmed at Industrial Alliance Securities

Franco-Nevada (NYSE:FNV) (TSE:FNV)‘s stock had its “buy” rating reiterated by equities research analysts at Industrial Alliance Securities in a research note issued on Friday, AnalystRatings.com reports. They presently have a C$250.00 target price on the basic materials company’s stock.

A number of other brokerages also recently issued reports on FNV. TD Securities lifted their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, April 20th. Barclays raised shares of Franco-Nevada from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $102.00 to $104.00 in a research note on Friday, March 12th. Raymond James lifted their price objective on shares of Franco-Nevada from $166.00 to $172.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on shares of Franco-Nevada from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Monday, April 26th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Franco-Nevada in a research note on Thursday, March 4th. They set a “neutral” rating and a $152.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Franco-Nevada has a consensus rating of “Hold” and an average price target of $163.85.

Shares of NYSE FNV opened at $154.82 on Friday. The company has a market cap of $29.57 billion, a P/E ratio of 49.46, a P/E/G ratio of 11.36 and a beta of 0.58. The company has a fifty day moving average of $143.98. Franco-Nevada has a 52-week low of $105.62 and a 52-week high of $166.11.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, May 5th. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The company had revenue of $308.90 million for the quarter, compared to the consensus estimate of $312.75 million. Franco-Nevada had a net margin of 54.79% and a return on equity of 10.64%. As a group, analysts forecast that Franco-Nevada will post 3.33 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlas Private Wealth Advisors purchased a new position in Franco-Nevada during the 1st quarter worth $25,000. Truvestments Capital LLC increased its holdings in shares of Franco-Nevada by 100.0% in the 1st quarter. Truvestments Capital LLC now owns 200 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Franco-Nevada by 63.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 240 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 93 shares during the period. Bogart Wealth LLC purchased a new position in shares of Franco-Nevada in the 1st quarter valued at $33,000. Finally, St. Johns Investment Management Company LLC purchased a new position in shares of Franco-Nevada in the 1st quarter valued at $34,000. Institutional investors own 68.39% of the company’s stock.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Latin America, Canada, Australia, Europe, and Africa, and internationally. It operates through two segment, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.

Further Reading: What are some reasons analysts would give stocks a buy rating?

Analyst Recommendations for Franco-Nevada (NYSE:FNV)

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