Franco-Nevada Corp. (FNV) Cut to Hold at Zacks Investment Research
Franco-Nevada Corp. (NYSE:FNV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “
Other analysts have also issued reports about the stock. Vetr raised shares of Franco-Nevada Corp. from a “strong sell” rating to a “sell” rating and set a $62.44 price target for the company in a research note on Wednesday, June 22nd. TheStreet lowered shares of Franco-Nevada Corp. from a “buy” rating to a “hold” rating in a research note on Monday, September 12th. TD Securities reaffirmed a “hold” rating and issued a $77.00 price target on shares of Franco-Nevada Corp. in a research note on Saturday, August 13th. HSBC reaffirmed a “buy” rating on shares of Franco-Nevada Corp. in a research note on Thursday, July 7th. Finally, Deutsche Bank AG raised shares of Franco-Nevada Corp. from a “sell” rating to a “hold” rating and upped their price target for the stock from $62.00 to $74.00 in a research note on Friday, September 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $69.31.
Shares of Franco-Nevada Corp. (NYSE:FNV) traded up 0.35% during mid-day trading on Monday, reaching $63.67. 276,969 shares of the company were exchanged. The firm has a market capitalization of $11.34 billion, a PE ratio of 188.37 and a beta of 0.18. The company’s 50 day moving average price is $71.06 and its 200 day moving average price is $70.73. Franco-Nevada Corp. has a 12 month low of $41.47 and a 12 month high of $81.16.
Franco-Nevada Corp. (NYSE:FNV) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The company earned $150.90 million during the quarter, compared to analyst estimates of $149.36 million. Franco-Nevada Corp. had a net margin of 11.05% and a return on equity of 3.02%. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. Equities analysts anticipate that Franco-Nevada Corp. will post $0.90 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.88 annualized dividend and a yield of 1.38%. Franco-Nevada Corp.’s dividend payout ratio is presently 275.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in Franco-Nevada Corp. by 15.3% in the second quarter. IFP Advisors Inc now owns 1,317 shares of the company’s stock valued at $100,000 after buying an additional 175 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Franco-Nevada Corp. by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,788 shares of the company’s stock valued at $211,000 after buying an additional 1,100 shares in the last quarter. Seven Eight Capital LLC bought a new position in Franco-Nevada Corp. during the second quarter valued at $221,000. Carnick & Kubik Group LLC bought a new position in Franco-Nevada Corp. during the second quarter valued at $230,000. Finally, Hillsdale Investment Management Inc. raised its position in Franco-Nevada Corp. by 18.2% in the second quarter. Hillsdale Investment Management Inc. now owns 3,250 shares of the company’s stock valued at $247,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 64.49% of the company’s stock.
Franco-Nevada Corp. Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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