Franco Nevada (FNV) Downgraded by Royal Bank of Canada to Sector Perform
Franco Nevada (TSE:FNV) (NYSE:FNV) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued on Wednesday, BayStreet.CA reports. They presently have a C$117.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 16.98% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. National Bank Financial upped their target price on Franco Nevada from C$105.00 to C$107.50 and gave the company a “sector perform” rating in a research report on Thursday, May 9th. Canaccord Genuity decreased their target price on Franco Nevada from C$119.00 to C$118.00 in a research report on Tuesday, April 23rd.
TSE FNV traded down C$1.81 during trading on Wednesday, reaching C$100.02. 250,947 shares of the company’s stock were exchanged, compared to its average volume of 491,528. The company has a market cap of $18.84 billion and a PE ratio of 133.54. The company has a quick ratio of 3.38, a current ratio of 4.14 and a debt-to-equity ratio of 3.38. Franco Nevada has a fifty-two week low of C$76.53 and a fifty-two week high of C$105.04.
Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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