Franco-Nevada (NYSE:FNV) Upgraded by Canaccord Genuity Group to “Buy” Rating

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

Several other brokerages have also commented on FNV. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group reduced their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Scotiabank lowered their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.57.

Franco-Nevada Trading Up 2.1 %

FNV opened at $116.36 on Monday. The company has a market cap of $22.40 billion, a price-to-earnings ratio of -36.06, a price-to-earnings-growth ratio of 19.22 and a beta of 0.75. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $137.60. The stock has a fifty day simple moving average of $126.21 and a two-hundred day simple moving average of $123.96.

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

Institutional Investors Weigh In On Franco-Nevada

A number of institutional investors and hedge funds have recently bought and sold shares of FNV. Allspring Global Investments Holdings LLC purchased a new position in shares of Franco-Nevada during the second quarter valued at $276,446,000. EdgePoint Investment Group Inc. increased its position in Franco-Nevada by 68.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock valued at $328,972,000 after purchasing an additional 1,117,523 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased 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 purchasing an additional 706,919 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Franco-Nevada by 13.9% in 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 purchasing an additional 424,810 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Franco-Nevada by 60.1% in the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock worth $119,069,000 after purchasing an additional 359,900 shares during the period. 77.06% of the stock is owned by institutional investors.

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.