UBS Group Initiates Coverage on Franco-Nevada (NYSE:FNV)

UBS Group initiated coverage on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a report released on Monday,Finviz reports. The firm set a “buy” rating and a $160.00 price target on the basic materials company’s stock. UBS Group’s price objective points to a potential upside of 37.12% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. HC Wainwright upped their price target on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Scotiabank reduced their price target on shares of 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. Finally, TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $116.69 on Monday. The firm has a 50-day simple moving average of $126.21 and a two-hundred day simple moving average of $123.96. The company has a market cap of $22.46 billion, a P/E ratio of -36.93, a price-to-earnings-growth ratio of 19.22 and a beta of 0.75. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $137.60.

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

Institutional Trading of Franco-Nevada

Several hedge funds have recently made changes to their positions in FNV. Allspring Global Investments Holdings LLC purchased a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $276,446,000. EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 68.1% in 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 buying an additional 1,117,523 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Franco-Nevada by 3,404.9% in 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 buying an additional 706,919 shares during the period. Victory Capital Management Inc. grew its stake 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 buying an additional 424,810 shares during the period. Finally, Two Sigma Advisers LP grew its stake 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 valued at $119,069,000 after buying an additional 359,900 shares during the period. 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.