Franco Nevada (NYSE:FNV) Sets New 12-Month High at $91.99

Franco Nevada Corp (NYSE:FNV) (TSE:FNV)’s share price reached a new 52-week high on Monday . The stock traded as high as $91.99 and last traded at $91.92, with a volume of 1546 shares changing hands. The stock had previously closed at $89.54.

FNV has been the topic of several research reports. Royal Bank of Canada cut Franco Nevada from an “outperform” rating to a “sector perform” rating and set a $75.54 price objective on the stock. in a research report on Wednesday, May 22nd. TD Securities boosted their price target on Franco Nevada from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Canaccord Genuity reissued an “average” rating and issued a $127.00 price target on shares of Franco Nevada in a research report on Friday, July 19th. GMP Securities cut Franco Nevada from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, TheStreet raised Franco Nevada from a “c+” rating to a “b-” rating in a research report on Tuesday, June 18th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Franco Nevada currently has an average rating of “Hold” and a consensus price target of $93.44.

The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $85.51. The company has a market capitalization of $16.76 billion, a PE ratio of 76.53, a P/E/G ratio of 15.73 and a beta of 0.06.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. The company had revenue of $179.80 million during the quarter, compared to analyst estimates of $166.15 million. Franco Nevada had a net margin of 21.16% and a return on equity of 4.64%. On average, equities analysts predict that Franco Nevada Corp will post 1.42 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Legacy Bridge LLC purchased a new stake in Franco Nevada during the 1st quarter valued at $45,000. Advisory Services Network LLC increased its stake in shares of Franco Nevada by 42.1% in the 4th quarter. Advisory Services Network LLC now owns 729 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 216 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Franco Nevada by 83.0% in the 1st quarter. Quadrant Capital Group LLC now owns 745 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 338 shares in the last quarter. Legacy Advisors LLC purchased a new stake in shares of Franco Nevada in the 1st quarter worth $58,000. Finally, Carroll Financial Associates Inc. purchased a new stake in shares of Franco Nevada in the 1st quarter worth $64,000. Institutional investors and hedge funds own 65.23% of the company’s stock.

About Franco Nevada (NYSE:FNV)

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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