Zacks Investment Research upgraded shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) from a hold rating to a buy rating in a research note released on Monday. The brokerage currently has $81.00 price objective on the basic materials company’s stock.

According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “

A number of other research firms have also recently issued reports on FNV. Barclays PLC reiterated an equal weight rating and set a $74.00 price objective (up from $68.00) on shares of Franco-Nevada Corporation in a research report on Tuesday, June 6th. Deutsche Bank AG reiterated a hold rating and set a $64.00 price objective (down from $65.00) on shares of Franco-Nevada Corporation in a research report on Sunday, June 25th. ValuEngine upgraded shares of Franco-Nevada Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Franco-Nevada Corporation from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Finally, Credit Suisse Group set a $78.00 price objective on shares of Franco-Nevada Corporation and gave the stock a buy rating in a research report on Tuesday, July 18th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Franco-Nevada Corporation has an average rating of Buy and an average target price of $77.86.

Franco-Nevada Corporation (NYSE:FNV) traded down 0.46% during mid-day trading on Monday, hitting $74.13. 316,671 shares of the stock traded hands. The stock has a market capitalization of $13.40 billion, a PE ratio of 97.41 and a beta of -0.03. The company has a 50 day moving average price of $72.25 and a 200-day moving average price of $68.66. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $81.16.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 9th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. The business had revenue of $172.70 million during the quarter, compared to analysts’ expectations of $158.75 million. Franco-Nevada Corporation had a net margin of 21.17% and a return on equity of 4.35%. During the same period in the prior year, the company earned $0.17 EPS. Equities analysts anticipate that Franco-Nevada Corporation will post $0.97 earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake in Franco-Nevada Corporation by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 3,642 shares of the basic materials company’s stock worth $263,000 after buying an additional 30 shares in the last quarter. Capstone Asset Management Co. raised its stake in Franco-Nevada Corporation by 0.5% in the second quarter. Capstone Asset Management Co. now owns 23,100 shares of the basic materials company’s stock worth $1,667,000 after buying an additional 120 shares in the last quarter. Korea Investment CORP raised its stake in Franco-Nevada Corporation by 1.9% in the second quarter. Korea Investment CORP now owns 11,234 shares of the basic materials company’s stock worth $809,000 after buying an additional 212 shares in the last quarter. Chase Investment Counsel Corp raised its stake in Franco-Nevada Corporation by 7.5% in the second quarter. Chase Investment Counsel Corp now owns 4,365 shares of the basic materials company’s stock worth $314,000 after buying an additional 305 shares in the last quarter. Finally, Hexavest Inc. raised its stake in Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock worth $120,000 after buying an additional 559 shares in the last quarter. 63.12% of the stock is currently owned by institutional investors.

Franco-Nevada Corporation Company Profile

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.

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