Franco Nev Corp (FNV) Gets a Buy Rating from RBC Capital


According to The Fly, in a report released yesterday, Stephen Walker from RBC Capital reiterated a Buy rating on Franco Nev Corp (FNV). The company’s shares closed yesterday at $65.28.

According to TipRanks.com, Walker is a 3-star analyst with an average return of 1.7% and a 41.9% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Novagold Resources Inc New, Teck Resources Limited, and Hudbay Minerals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Franco Nev Corp with a $77.67 average price target, implying a 19.0% upside from current levels. In a report released yesterday, TD Securities also maintained a Buy rating on the stock with a $79 price target.

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Based on Franco Nev Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $52.1 million. In comparison, last year the company had a net profit of $60 million.

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Franco-Nevada Corp. engages in managing and growing its own portfolio of royalties and stream. It focuses on gold, silver, and platinum group metals. The company was founded on October 17, 2007 and is headquartered in Toronto, Canada.

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