Franco-Nevada (NYSE:FNV) Stock Rating Upgraded by Canaccord Genuity Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat reports.

Several other equities research analysts have also issued reports on FNV. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Scotiabank decreased their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group cut their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Franco-Nevada Price Performance

Shares of FNV stock opened at $121.27 on Monday. The company has a market cap of $23.34 billion, a PE ratio of -38.38, a price-to-earnings-growth ratio of 19.22 and a beta of 0.75. The stock’s 50 day simple moving average is $126.17 and its two-hundred day simple moving average is $123.93. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. Equities research analysts expect that Franco-Nevada will post 3.22 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. M&G PLC boosted its stake in shares of Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after purchasing an additional 51,996 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after acquiring an additional 706,919 shares in the last quarter. Victory Capital Management Inc. boosted its position in Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after acquiring an additional 424,810 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Franco-Nevada by 44.4% in the 1st quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company’s stock valued at $7,576,000 after acquiring an additional 19,551 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Franco-Nevada by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 155,836 shares of the basic materials company’s stock worth $18,472,000 after acquiring an additional 6,202 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

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.