Franco-Nevada (FNV): New Buy Recommendation for This Basic Materials Giant

In a report released yesterday, Josh Wolfson from RBC Capital maintained a Buy rating on Franco-Nevada, with a price target of $320.00. The company’s shares closed yesterday at C$352.73.

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According to TipRanks, Wolfson is a top 100 analyst with an average return of 24.7% and a 68.68% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Barrick Mining, Franco-Nevada, and Royal Gold.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Franco-Nevada with a $305.48 average price target.

Based on Franco-Nevada’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$604.86 million and a net profit of C$373.35 million. In comparison, last year the company earned a revenue of C$321 million and had a net profit of C$175.4 million

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FNV in relation to earlier this year.