Franco Nevada (NYSE:FNV) Given New $88.00 Price Target at Deutsche Bank
Franco Nevada (NYSE:FNV) (TSE:FNV) had its price target hoisted by equities research analysts at Deutsche Bank from $81.00 to $88.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the basic materials company’s stock. Deutsche Bank’s target price suggests a potential downside of 5.60% from the company’s current price.
Other equities analysts have also issued research reports about the stock. GMP Securities lowered shares of Franco Nevada from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Raymond James raised their price objective on shares of Franco Nevada from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Credit Suisse Group lifted their price target on shares of Franco Nevada from $84.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays set a $89.00 price target on shares of Franco Nevada and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada lowered shares of Franco Nevada from an “outperform” rating to a “sector perform” rating and set a $75.54 price target on the stock. in a research report on Wednesday, May 22nd. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $96.62.
FNV traded down $0.07 during midday trading on Wednesday, hitting $93.22. 18,151 shares of the company’s stock traded hands, compared to its average volume of 546,245. The stock has a market capitalization of $17.55 billion, a P/E ratio of 79.68, a PEG ratio of 16.05 and a beta of 0.06. The company’s fifty day moving average price is $88.04. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.06. Franco Nevada has a one year low of $58.26 and a one year high of $96.49.
Large investors have recently added to or reduced their stakes in the company. AlphaCrest Capital Management LLC boosted its stake in shares of Franco Nevada by 27.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 12,597 shares of the basic materials company’s stock worth $945,000 after buying an additional 2,732 shares during the last quarter. Swiss National Bank raised its holdings in Franco Nevada by 3.0% in the 1st quarter. Swiss National Bank now owns 1,466,700 shares of the basic materials company’s stock valued at $109,996,000 after acquiring an additional 42,600 shares during the last quarter. Addenda Capital Inc. raised its holdings in Franco Nevada by 24.3% in the 2nd quarter. Addenda Capital Inc. now owns 364,581 shares of the basic materials company’s stock valued at $31,011,000 after acquiring an additional 71,160 shares during the last quarter. Cerebellum GP LLC acquired a new position in Franco Nevada in the 1st quarter valued at $320,000. Finally, Parametric Portfolio Associates LLC raised its holdings in Franco Nevada by 9.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 109,119 shares of the basic materials company’s stock valued at $8,189,000 after acquiring an additional 9,175 shares during the last quarter. 65.41% of the stock is currently owned by institutional investors.
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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