Franco-Nevada (NYSE:FNV) Rating Lowered to “Hold (C+)” at Weiss Ratings

Franco-Nevada (NYSE:FNV) (TSE:FNV) was downgraded by research analysts at Weiss Ratings from a “buy (b-)” rating to a “hold (c+)” rating in a report released on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on FNV. Raymond James Financial upped their price objective on Franco-Nevada from $203.00 to $218.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. HC Wainwright upped their price objective on Franco-Nevada from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. UBS Group increased their price target on Franco-Nevada from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Hold” and an average price target of $194.57.

Franco-Nevada Price Performance

Shares of FNV stock opened at $213.96 on Wednesday. Franco-Nevada has a 1 year low of $112.70 and a 1 year high of $225.63. The stock’s 50 day simple moving average is $193.54 and its two-hundred day simple moving average is $173.80. The company has a market cap of $41.23 billion, a PE ratio of 52.57, a price-to-earnings-growth ratio of 2.85 and a beta of 0.42.

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

Institutional Inflows and Outflows

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