Franco-Nevada (NYSE:FNV) Given New $137.00 Price Target at Jefferies Financial Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price hoisted by Jefferies Financial Group from $133.00 to $137.00 in a report released on Friday, Benzinga reports. The firm currently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 13.62% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Scotiabank lifted their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $142.00 to $139.00 in a research note on Tuesday. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.88.

Franco-Nevada Trading Down 0.9 %

Shares of NYSE:FNV traded down $1.13 during trading on Friday, reaching $120.58. 577,703 shares of the company traded hands, compared to its average volume of 652,670. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $142.60. The firm has a market capitalization of $23.20 billion, a price-to-earnings ratio of -48.39, a P/E/G ratio of 21.28 and a beta of 0.76. The business’s fifty day moving average is $123.47 and its 200-day moving average is $122.23.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. Franco-Nevada’s revenue was down 21.2% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. On average, sell-side analysts predict that Franco-Nevada will post 3.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently made changes to their positions in the company. Bornite Capital Management LP bought a new stake in shares of Franco-Nevada in the fourth quarter worth approximately $8,167,000. Mediolanum International Funds Ltd bought a new position in shares of Franco-Nevada during the 1st quarter valued at $8,340,000. Vanguard Group Inc. grew its holdings in shares of Franco-Nevada by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company’s stock worth $802,731,000 after acquiring an additional 139,826 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Franco-Nevada by 116.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,628 shares of the basic materials company’s stock valued at $1,028,000 after acquiring an additional 4,637 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in Franco-Nevada during the fourth quarter valued at $1,342,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

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.