Analysts Set Franco-Nevada Corporation (FNV) Target Price at $76.76

Analysts Set Franco-Nevada Corporation (FNV) Target Price at $76.76

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have earned an average rating of “Hold” from the twenty analysts that are currently covering the company. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $76.76.

Several equities research analysts have weighed in on FNV shares. TheStreet raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, November 8th. Scotiabank reissued a “sector perform” rating and set a $80.00 price target on shares of Franco-Nevada Corporation in a research report on Tuesday, November 8th. RBC Capital Markets reissued an “outperform” rating on shares of Franco-Nevada Corporation in a research report on Tuesday, November 8th. Deutsche Bank AG raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Wednesday, November 9th. Finally, TD Securities reissued a “hold” rating and set a $77.00 price target on shares of Franco-Nevada Corporation in a research report on Thursday, November 10th.

Franco-Nevada Corporation (NYSE:FNV) opened at 67.81 on Friday. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 121.74 and a beta of 0.08. The firm has a 50 day moving average of $62.44 and a 200-day moving average of $66.32. Franco-Nevada Corporation has a 1-year low of $47.40 and a 1-year high of $81.16.

Several hedge funds and other institutional investors have recently modified their holdings of FNV. The Manufacturers Life Insurance Company purchased a new stake in shares of Franco-Nevada Corporation during the third quarter valued at approximately $71,833,000. Russell Investments Group Ltd. purchased a new stake in shares of Franco-Nevada Corporation during the fourth quarter valued at approximately $32,165,000. Vanguard Group Inc. increased its stake in shares of Franco-Nevada Corporation by 11.2% in the second quarter. Vanguard Group Inc. now owns 3,648,583 shares of the company’s stock valued at $277,511,000 after buying an additional 366,365 shares during the period. AGF Investments Inc. increased its stake in shares of Franco-Nevada Corporation by 63.1% in the second quarter. AGF Investments Inc. now owns 800,602 shares of the company’s stock valued at $60,857,000 after buying an additional 309,824 shares during the period. Finally, Cadinha & Co. LLC purchased a new stake in shares of Franco-Nevada Corporation during the second quarter valued at approximately $11,982,000. Institutional investors own 64.23% of the company’s stock.

Franco-Nevada Corporation Company Profile

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.

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