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.
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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