One company that should be on your radar is Franco-Nevada Corporation (FNV). The stock of this Canada based gold-focused royalty and stream Company has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For FNV’s full year estimate, we have seen 1 estimate go higher in the past 30 days, compared to no estimate moving lower. This trend has helped the consensus estimate to trend higher, going from 95 cents a share a month ago to its current level at 96 cents.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, FNV has seen some pretty solid trading lately, as the company has moved higher by 13.38% in the past month.
If Franco-Nevada can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put FNV on your watch list for the future.
Other top-ranked stocks worth considering in this space include AngloGold Ashanti Ltd. (AU), Lake Shore Gold Corp. (LSG) and NovaGold Resources Inc. (NG). Among these stocks, AngloGold carries a Zacks Rank #1 (Strong Buy) and Lake Shore and NovaGold carry a Zacks Rank #2(Buy).
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