Franco-Nevada (NYSE:FNV) Rating Lowered to Hold at Wall Street Zen

Franco-Nevada (NYSE:FNV) (TSE:FNV) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Other equities research analysts have also recently issued reports about the stock. UBS Group lifted their price target on shares of Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Scotiabank increased their price objective on shares of Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Bank of America boosted their target price on Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Franco-Nevada in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $223.43.

Franco-Nevada Stock Up 0.0%

Shares of Franco-Nevada stock opened at $197.14 on Friday. Franco-Nevada has a 52 week low of $113.54 and a 52 week high of $225.63. The business’s fifty day simple moving average is $202.51 and its 200-day simple moving average is $180.59. The firm has a market cap of $38.00 billion, a PE ratio of 48.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The firm had revenue of $487.70 million during the quarter, compared to the consensus estimate of $448.51 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The company’s quarterly revenue was up 76.9% on a year-over-year basis. During the same period last year, the company earned $0.80 EPS. As a group, equities analysts expect that Franco-Nevada will post 3.09 earnings per share for the current year.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently made changes to their positions in FNV. Smartleaf Asset Management LLC increased its stake in shares of Franco-Nevada by 27.6% during the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after buying an additional 54 shares during the period. Spire Wealth Management grew its holdings in Franco-Nevada by 13.4% during the 3rd quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 56 shares in the last quarter. Lafayette Investments Inc. raised its holdings in shares of Franco-Nevada by 2.4% in the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 60 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Franco-Nevada by 19.6% during the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 71 shares during the last quarter. Finally, Beacon Financial Group grew its stake in shares of Franco-Nevada by 1.0% during the second quarter. Beacon Financial Group now owns 7,169 shares of the basic materials company’s stock worth $1,175,000 after purchasing an additional 72 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.