.png "Franco Nev (NYSE: FNV)")
In a report issued on July 22, Fahad Tariq from Credit Suisse maintained a Hold rating on Franco Nev (FNV), with a price target of $130.00. The company’s shares closed last Tuesday at $163.40, close to its 52-week high of $165.98.
According to TipRanks.com, Tariq is a 5-star analyst with an average return of 31.4% and a 78.1% success rate. Tariq covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Kirkland Lake Gold, and Newmont Mining.
Currently, the analyst consensus on Franco Nev is a Hold with an average price target of $146.61, representing a -8.7% downside. In a report issued on July 13, RBC Capital also maintained a Hold rating on the stock with a $110.00 price target.
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Based on Franco Nev’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $241 million and GAAP net loss of $98.8 million. In comparison, last year the company earned revenue of $180 million and had a net profit of $65.2 million.
Based on the recent corporate insider activity of 81 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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Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded on October 17, 2007 and is headquartered in Toronto, Canada.
