TD Securities Upgrades Franco Nevada Corp (FNV) to “Buy”

Franco Nevada Corp (TSE:FNV) (NYSE:FNV) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a C$83.00 target price on the stock, up from their prior target price of C$71.00. TD Securities’ price objective points to a potential downside of 6.55% from the stock’s previous close.

FNV has been the subject of several other reports. Barclays PLC cut their price target on Franco Nevada Corp from C$68.00 to C$65.00 in a report on Tuesday, January 10th. Desjardins cut their price target on Franco Nevada Corp from C$115.00 to C$110.00 in a report on Wednesday, December 21st. Scotiabank cut their price target on Franco Nevada Corp from C$72.50 to C$71.50 and set a “sector perform” rating for the company in a report on Monday, January 23rd. Goldman Sachs Group Inc upgraded Franco Nevada Corp from a “sell” rating to a “neutral” rating in a report on Thursday, February 9th. Finally, CIBC boosted their price target on Franco Nevada Corp from C$95.00 to C$110.00 in a report on Wednesday, January 11th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of C$88.04.

Analyst Recommendations for Franco Nevada Corp (TSE:FNV)

Shares of Franco Nevada Corp (TSE:FNV) traded up 2.84% during mid-day trading on Monday, hitting $88.82. The stock had a trading volume of 886,264 shares. The company’s 50 day moving average price is $86.32 and its 200 day moving average price is $84.47. Franco Nevada Corp has a 12-month low of $71.44 and a 12-month high of $105.69. The stock has a market cap of $15.85 billion and a P/E ratio of 128.72.

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Franco Nevada Corp Company Profile

Franco-Nevada Corp (Franco-Nevada) is a Canada-based gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. It 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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