Franco-Nevada’s (FNV) Buy Rating Reiterated at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $305.00 price objective on the basic materials company’s stock. HC Wainwright’s target price would suggest a potential upside of 28.70% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 20th. Scotiabank lifted their price target on shares of Franco-Nevada from $283.00 to $286.00 and gave the company a “sector perform” rating in a research report on Monday, March 16th. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $257.25.

Franco-Nevada Stock Down 0.3%

Shares of NYSE:FNV opened at $236.98 on Wednesday. Franco-Nevada has a 12-month low of $152.89 and a 12-month high of $285.67. The stock has a market cap of $45.70 billion, a PE ratio of 41.14, a P/E/G ratio of 2.30 and a beta of 0.34. The business has a 50 day moving average of $247.89 and a 200-day moving average of $230.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The company had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. During the same quarter in the previous year, the company posted $1.07 earnings per share. The business’s revenue was up 76.6% on a year-over-year basis. Equities research analysts expect that Franco-Nevada will post 7.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FNV. GAMMA Investing LLC raised its position in Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 64 shares in the last quarter. Transamerica Financial Advisors LLC acquired a new position in Franco-Nevada during the fourth quarter valued at approximately $25,000. Burkett Financial Services LLC acquired a new position in shares of Franco-Nevada during the third quarter worth $28,000. Private Trust Co. NA acquired a new position in shares of Franco-Nevada during the fourth quarter worth $29,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 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.