Franco-Nevada Corporation (FNV) Given a $92.00 Price Target at TD Securities

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been assigned a $92.00 price objective by research analysts at TD Securities in a research note issued on Thursday, October 19th. The firm currently has a “buy” rating on the basic materials company’s stock. TD Securities’ target price would suggest a potential upside of 16.10% from the stock’s previous close.

A number of other research firms have also recently issued reports on FNV. BidaskClub cut Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Barclays PLC cut their target price on Franco-Nevada Corporation from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 13th. Zacks Investment Research upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Monday, July 31st. Scotiabank raised their target price on Franco-Nevada Corporation from $78.00 to $79.50 and gave the company a “sector perform” rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Franco-Nevada Corporation in a research note on Thursday, September 7th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.65.

Shares of Franco-Nevada Corporation (NYSE:FNV) opened at 79.24 on Thursday. Franco-Nevada Corporation has a 1-year low of $53.31 and a 1-year high of $85.03. The stock has a 50 day moving average of $79.80 and a 200-day moving average of $74.87. The firm has a market cap of $14.70 billion, a price-to-earnings ratio of 99.92 and a beta of -0.12.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. The firm had revenue of $163.60 million during the quarter, compared to the consensus estimate of $164.62 million. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. Equities analysts anticipate that Franco-Nevada Corporation will post $1.02 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its stake in Franco-Nevada Corporation by 0.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 3,642 shares of the basic materials company’s stock worth $263,000 after purchasing an additional 30 shares in the last quarter. Capstone Asset Management Co. increased its stake in Franco-Nevada Corporation by 0.5% in the 2nd quarter. Capstone Asset Management Co. now owns 23,100 shares of the basic materials company’s stock worth $1,667,000 after purchasing an additional 120 shares in the last quarter. Korea Investment CORP increased its stake in Franco-Nevada Corporation by 1.9% in the 2nd quarter. Korea Investment CORP now owns 11,234 shares of the basic materials company’s stock worth $809,000 after purchasing an additional 212 shares in the last quarter. Chase Investment Counsel Corp increased its stake in Franco-Nevada Corporation by 7.5% in the 2nd quarter. Chase Investment Counsel Corp now owns 4,365 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 305 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its stake in Franco-Nevada Corporation by 0.8% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 46,050 shares of the basic materials company’s stock worth $3,324,000 after purchasing an additional 350 shares in the last quarter. 60.00% of the stock is currently owned by hedge funds and other institutional investors.

About Franco-Nevada Corporation

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.

Analyst Recommendations for Franco-Nevada Corporation (NYSE:FNV)

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