HC Wainwright Raises Franco-Nevada (NYSE:FNV) Price Target to $200.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price raised by research analysts at HC Wainwright from $185.00 to $200.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price objective indicates a potential upside of 63.35% from the stock’s current price. HC Wainwright also issued estimates for Franco-Nevada’s FY2024 earnings at $2.78 EPS and FY2025 earnings at $3.58 EPS.

FNV has been the subject of a number of other reports. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Jefferies Financial Group dropped their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.57.

Franco-Nevada Trading Down 3.1 %

FNV stock traded down $3.97 during midday trading on Friday, hitting $122.44. 877,398 shares of the company’s stock were exchanged, compared to its average volume of 630,356. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of -38.75, a price-to-earnings-growth ratio of 22.11 and a beta of 0.75. The firm has a 50 day moving average price of $126.66 and a 200-day moving average price of $124.17. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.63% and a negative net margin of 55.28%. The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter last year, the firm posted $0.91 EPS. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. On average, sell-side analysts forecast that Franco-Nevada will post 3.25 EPS for the current fiscal year.

Institutional Trading of Franco-Nevada

A number of large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Franco-Nevada by 0.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock valued at $1,456,208,000 after purchasing an additional 64,429 shares during the period. Van ECK Associates Corp boosted its position in Franco-Nevada by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock worth $1,022,452,000 after acquiring an additional 151,566 shares during the period. Vanguard Group Inc. boosted its position in Franco-Nevada by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock worth $878,696,000 after acquiring an additional 129,876 shares during the period. Capital World Investors grew its stake in shares of Franco-Nevada by 2.7% in the first quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock worth $547,807,000 after purchasing an additional 120,367 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

About Franco-Nevada

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.