New Buy Rating for Franco-Nevada (FNV), the 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 $295.00. The company’s shares closed yesterday at C$318.84.
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According to TipRanks, Wolfson is a 5-star analyst with an average return of 20.6% and a 62.81% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Franco-Nevada, and Royal Gold.
Currently, the analyst consensus on Franco-Nevada is a Strong Buy with an average price target of $297.66, implying a -6.64% downside from current levels. In a report released on May 20, TD Cowen also upgraded the stock to a Buy with a $291.00 price target.
FNV market cap is currently C$62.94B and has a P/E ratio of 32.22.
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.
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