Canaccord Genuity Raises Franco Nevada (TSE:FNV) Price Target to C$127.00

Franco Nevada (TSE:FNV) (NYSE:FNV) had its price objective raised by Canaccord Genuity from C$125.00 to C$127.00 in a research note released on Friday morning, BayStreet.CA reports.

A number of other equities research analysts also recently commented on FNV. JPMorgan Chase & Co. upgraded shares of M.D.C. from an underweight rating to a neutral rating in a report on Monday, July 8th. Royal Bank of Canada lowered their price target on shares of Analog Devices from $140.00 to $120.00 and set an outperform rating for the company in a report on Wednesday, May 22nd. National Bank Financial downgraded shares of Detour Gold to a hold rating in a report on Friday, June 28th. Finally, CIBC reiterated a hold rating on shares of Sandstorm Gold in a report on Monday, July 15th.

Shares of TSE FNV opened at C$117.86 on Friday. The stock has a market capitalization of $22.07 billion and a P/E ratio of 157.36. Franco Nevada has a 12 month low of C$76.53 and a 12 month high of C$118.46. The company has a current ratio of 4.14, a quick ratio of 3.38 and a debt-to-equity ratio of 3.38. The business’s 50-day moving average price is C$108.51.

Franco Nevada (TSE:FNV) (NYSE:FNV) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C$0.47 EPS for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.10. The firm had revenue of C$239.06 million for the quarter, compared to analysts’ expectations of C$221.05 million. As a group, analysts expect that Franco Nevada will post 1.54 EPS for the current fiscal year.

In related news, Senior Officer Eaun Harrison Gray sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$112.00, for a total value of C$560,000.00. Following the completion of the sale, the insider now directly owns 203 shares in the company, valued at C$22,736. Also, Senior Officer Sandip Rana sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$111.27, for a total transaction of C$1,112,660.00. Following the completion of the sale, the insider now owns 34,750 shares of the company’s stock, valued at C$3,866,493.50. Over the last 90 days, insiders sold 33,000 shares of company stock valued at $3,567,660.

About Franco Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.

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