UBS Group Issues Positive Forecast for Franco-Nevada (NYSE:FNV) Stock Price

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price lifted by equities researchers at UBS Group from $165.00 to $170.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price indicates a potential upside of 16.93% from the stock’s previous close.

Other analysts also recently issued reports about the company. Royal Bank of Canada upped their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, HC Wainwright lifted their target price on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus price target of $150.86.

Franco-Nevada Trading Up 1.2 %

Shares of Franco-Nevada stock traded up $1.77 on Tuesday, reaching $145.38. 72,161 shares of the stock were exchanged, compared to its average volume of 612,946. The firm has a market capitalization of $27.99 billion, a PE ratio of -45.93, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada has a 1-year low of $111.98 and a 1-year high of $150.23. The business has a fifty day moving average price of $133.80 and a two-hundred day moving average price of $127.30.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The company had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. Research analysts expect that Franco-Nevada will post 3.09 EPS for the current year.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Franco-Nevada during the 4th quarter worth approximately $237,643,000. EdgePoint Investment Group Inc. raised its stake in shares of Franco-Nevada by 49.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock valued at $582,100,000 after acquiring an additional 1,650,358 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock valued at $136,796,000 after acquiring an additional 828,166 shares in the last quarter. Capital World Investors boosted its position in Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock worth $934,106,000 after purchasing an additional 711,591 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Franco-Nevada by 76.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after purchasing an additional 556,894 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.