Why Has Deutsche Bank Given Franco-Nevada (NYSE:FNV) a $52 Price Target
In analysts note published today, Deutsche Bank analysts began issuing Franco-Nevada (NYSE:FNV) coverage with “Hold” rating, and a $52 target.
From a total of 8 analysts covering Franco-Nevada Corp (NYSE:FNV) stock, 6 rate it a ”Buy”, 1 a “Sell”, and 2 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $61.11 while the lowest target price is $47. The mean of all analyst targets is $53.57 with a 35.59% above today’s ($48.55) stock price. Franco-Nevada Corp was the topic of 11 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on November 10 with “Underweight” rating. Canaccord Genuity maintained shares with “Buy” rating and $68 target share price in a report from an August 11. RBC Capital Markets maintained FNV stock in a recent report from October 8 with “Outperform” rating. Finally, Zacks downgraded the stock to “Sell” rating in a report issued on a September 7.
Approximately 667,394 shares of stock traded hands. Franco-Nevada Corporation (NYSE:FNV) has declined 10.41% since May 8, 2015 and is downtrending. It has underperformed by 7.39% the S&P500.
Franco-Nevada Corporation is a gold-focused royalty and stream company. The company has a market cap of $7.49 billion. The Company’s additional interests are in platinum group metals and other resource assets. It has 138.71 P/E ratio. The Company’s business model provides investors with gold price and exploration optionality.
According to Zacks Investment Research, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada.” Get a free copy of the Zacks research report on Franco-Nevada Corporation (FNV).