Stifel Nicolaus Forecasts Strong Price Appreciation for Franco-Nevada (TSE:FNV) Stock

Franco-Nevada (TSE:FNV) (NYSE:FNV) had its price target upped by equities researchers at Stifel Nicolaus from C$380.00 to C$390.00 in a report released on Friday,BayStreet.CA reports. Stifel Nicolaus’ price objective points to a potential upside of 39.44% from the stock’s current price.

A number of other equities research analysts have also recently commented on FNV. TD Securities raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. National Bank Financial raised Franco-Nevada from a “hold” rating to a “strong-buy” rating and lifted their price target for the stock from C$410.00 to C$420.00 in a research report on Wednesday, May 13th. BMO Capital Markets upped their price target on shares of Franco-Nevada from C$370.00 to C$410.00 in a research note on Wednesday, April 22nd. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada has a consensus rating of “Strong Buy” and an average target price of C$356.56.

Franco-Nevada Stock Up 0.4%

Shares of FNV stock traded up C$1.05 during trading hours on Friday, hitting C$279.70. 132,842 shares of the company’s stock traded hands, compared to its average volume of 389,180. The stock’s fifty day simple moving average is C$306.57 and its two-hundred day simple moving average is C$326.86. Franco-Nevada has a 12-month low of C$211.53 and a 12-month high of C$388.22. The stock has a market cap of C$53.94 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 5.00 and a beta of 0.96.

Franco-Nevada (TSE:FNV) (NYSE:FNV) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C$3.31 earnings per share for the quarter. Franco-Nevada had a return on equity of 18.67% and a net margin of 65.14%.The company had revenue of C$904.66 million for the quarter. On average, equities analysts forecast that Franco-Nevada will post 3.1114111 earnings per share for the current fiscal year.

About Franco-Nevada

Franco-Nevada Corp is a precious-metals-focused royalty and investment company. The company owns a diversified portfolio of precious metals and royalty streams, which is actively managed to generate the bulk of its revenue from gold, silver, and platinum. The company does not operate mines, develop projects, or conduct exploration. Franco-Nevada’s short-term financial performance is linked to the price of commodities and the amount of production from its portfolio of producing assets. Its long-term performance is affected by the availability of exploration and development capital.