Franco-Nevada (NYSE:FNV) Cut to Hold at Zacks Research

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

Several other equities research analysts have also recently issued reports on FNV. Raymond James Financial raised their target price on shares of Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. HC Wainwright increased their price target on Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Scotiabank lifted their price objective on Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, TD Securities dropped their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $232.75.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $208.13 on Monday. The firm has a market cap of $40.12 billion, a price-to-earnings ratio of 43.63, a price-to-earnings-growth ratio of 1.57 and a beta of 0.46. The business has a 50-day simple moving average of $199.93 and a two-hundred day simple moving average of $185.22. Franco-Nevada has a fifty-two week low of $114.81 and a fifty-two week high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The firm had revenue of $487.70 million for the quarter, compared to the consensus estimate of $448.51 million. During the same quarter last year, the firm posted $0.80 EPS. The business’s quarterly revenue was up 76.9% compared to the same quarter last year. As a group, research analysts predict that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 4th. Franco-Nevada’s payout ratio is currently 31.87%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FNV. FORA Capital LLC increased its position in shares of Franco-Nevada by 169.8% during the 1st quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company’s stock valued at $842,000 after purchasing an additional 3,362 shares during the last quarter. Jump Financial LLC purchased a new position in Franco-Nevada during the first quarter worth $274,000. Northern Trust Corp increased its position in Franco-Nevada by 12.8% during the first quarter. Northern Trust Corp now owns 172,675 shares of the basic materials company’s stock valued at $27,207,000 after acquiring an additional 19,580 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Franco-Nevada by 8.4% in the first quarter. Raymond James Financial Inc. now owns 113,164 shares of the basic materials company’s stock valued at $17,830,000 after acquiring an additional 8,732 shares during the period. Finally, Compound Planning Inc. bought a new stake in shares of Franco-Nevada in the 1st quarter worth about $225,000. 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.