New Buy Rating for Franco-Nevada (FNV), the Basic Materials Giant
In a report released today, Cosmos Chiu from CIBC maintained a Buy rating on Franco-Nevada, with a price target of C$480.00.
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According to TipRanks, Chiu is a 5-star analyst with an average return of 21.4% and a 57.37% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Franco-Nevada, Pan American Silver, and OceanaGold.
Currently, the analyst consensus on Franco-Nevada is a Strong Buy with an average price target of C$414.92.
Based on Franco-Nevada’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$639.45 million and a net profit of C$460.92 million. In comparison, last year the company earned a revenue of C$368.4 million and had a net profit of C$209.8 million
Based on the recent corporate insider activity of 42 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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