Franco-Nevada (NYSE:FNV) Given New $305.00 Price Target at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price hoisted by HC Wainwright from $285.00 to $305.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price objective points to a potential upside of 14.90% from the stock’s previous close.

Several other brokerages have also recently issued reports on FNV. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Canaccord Genuity Group lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. UBS Group reaffirmed a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a report on Friday, January 30th. Zacks Research upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Finally, Jefferies Financial Group restated a “hold” rating and set a $228.00 price objective on shares of Franco-Nevada in a research report on Sunday, December 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $256.88.

Franco-Nevada Trading Up 1.1%

Franco-Nevada stock opened at $265.45 on Thursday. Franco-Nevada has a 52 week low of $140.03 and a 52 week high of $285.67. The stock has a market cap of $51.18 billion, a price-to-earnings ratio of 46.08, a PEG ratio of 3.49 and a beta of 0.45. The company’s 50-day moving average price is $248.77 and its two-hundred day moving average price is $218.52.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.18. Franco-Nevada had a net margin of 61.01% and a return on equity of 16.22%. The business had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $542.02 million. During the same period last year, the firm posted $0.95 earnings per share. The business’s revenue was up 86.1% on a year-over-year basis. Research analysts expect that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Institutional Trading of Franco-Nevada

Several institutional investors have recently made changes to their positions in FNV. AQR Capital Management LLC purchased a new stake in Franco-Nevada in the 1st quarter worth approximately $241,000. NewEdge Advisors LLC grew its holdings in shares of Franco-Nevada by 16.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after acquiring an additional 943 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Franco-Nevada by 118.3% during the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after acquiring an additional 5,032 shares in the last quarter. Acadian Asset Management LLC boosted its position in Franco-Nevada by 800.0% during the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Franco-Nevada by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 184,601 shares of the basic materials company’s stock valued at $30,260,000 after purchasing an additional 8,758 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.