Franco-Nevada (NYSE:FNV) Lowered to Hold Rating by Zacks Research

Franco-Nevada (NYSE:FNV) (TSE:FNV) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on FNV. CIBC reaffirmed an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Raymond James Financial raised their price objective on shares of Franco-Nevada from $186.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. TD Securities upped their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, August 12th. HC Wainwright increased their target price on Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Finally, National Bankshares restated a “sector perform” rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $178.88.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $181.5260 on Wednesday. Franco-Nevada has a 52-week low of $112.70 and a 52-week high of $183.91. The company’s 50 day moving average price is $165.92 and its 200-day moving average price is $160.00. The stock has a market capitalization of $34.98 billion, a price-to-earnings ratio of 44.60, a P/E/G ratio of 2.37 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $382.70 million. During the same quarter in the prior year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 42.0% compared to the same quarter last year. As a group, equities research analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently modified their holdings of the stock. CX Institutional purchased a new position in shares of Franco-Nevada in the 1st quarter worth about $30,000. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada during the 1st quarter valued at about $32,000. MTM Investment Management LLC purchased a new position in Franco-Nevada in the second quarter worth about $32,000. Smartleaf Asset Management LLC lifted its stake in shares of Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in shares of Franco-Nevada by 78.3% in the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after buying an additional 90 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.