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

Zacks Research lowered shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

FNV has been the topic of several other research reports. TD Securities boosted their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, August 12th. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Scotiabank boosted their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada upped their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. Finally, HC Wainwright upped their target price on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus price target of $178.88.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $181.5260 on Wednesday. The firm has a market cap 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 has a 52 week low of $112.70 and a 52 week high of $183.91. The firm’s 50-day simple moving average is $165.92 and its two-hundred day simple moving average is $160.00.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada’s payout ratio is currently 37.35%.

Hedge Funds Weigh In On Franco-Nevada

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CX Institutional purchased a new position in Franco-Nevada in the 1st quarter worth approximately $30,000. Cullen Frost Bankers Inc. purchased a new position in Franco-Nevada in the 1st quarter worth approximately $32,000. MTM Investment Management LLC purchased a new position in Franco-Nevada in the 2nd quarter worth approximately $32,000. Smartleaf Asset Management LLC boosted its stake in shares of Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Franco-Nevada by 78.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.