StockNews.com Upgrades Franco-Nevada (NYSE:FNV) to Buy

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other research firms have also recently weighed in on FNV. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. UBS Group initiated coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective for the company. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target of $146.71.

Franco-Nevada Stock Performance

NYSE:FNV opened at $143.36 on Friday. The stock’s 50 day moving average price is $133.80 and its 200 day moving average price is $127.28. Franco-Nevada has a 52 week low of $111.98 and a 52 week high of $146.70. The company has a market capitalization of $27.60 billion, a P/E ratio of -45.37, a P/E/G ratio of 9.78 and a beta of 0.73.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FNV. Malaga Cove Capital LLC acquired a new position in Franco-Nevada during the third quarter worth $208,000. Confluence Investment Management LLC raised its stake in Franco-Nevada by 9.4% during the third quarter. Confluence Investment Management LLC now owns 5,325 shares of the basic materials company’s stock worth $662,000 after acquiring an additional 456 shares in the last quarter. Hudson Value Partners LLC raised its stake in Franco-Nevada by 1.8% during the third quarter. Hudson Value Partners LLC now owns 30,489 shares of the basic materials company’s stock worth $3,788,000 after acquiring an additional 539 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Franco-Nevada during the third quarter worth $147,000. Finally, CWA Asset Management Group LLC acquired a new position in Franco-Nevada during the third quarter worth $19,875,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.