Franco-Nevada Corp. (FNV) Lowered to Hold at Zacks Investment Research
According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “
A number of other research analysts have also issued reports on the company. Bank of America Corp. initiated coverage on Franco-Nevada Corp. in a research report on Tuesday, August 9th. They set a buy rating for the company. HSBC reiterated a buy rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Vetr upgraded Franco-Nevada Corp. from a strong sell rating to a sell rating and set a $62.44 price target for the company in a research report on Wednesday, June 22nd. Deutsche Bank AG reiterated a sell rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Finally, TheStreet lowered Franco-Nevada Corp. from a buy rating to a hold rating in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $69.11.
Shares of Franco-Nevada Corp. (NYSE:FNV) opened at 64.62 on Monday. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 191.18 and a beta of 0.18. Franco-Nevada Corp. has a 1-year low of $41.47 and a 1-year high of $81.16. The company’s 50 day moving average price is $70.03 and its 200-day moving average price is $70.58.
Franco-Nevada Corp. (NYSE:FNV) last released its quarterly earnings data on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. Franco-Nevada Corp. had a return on equity of 3.02% and a net margin of 11.05%. The business earned $150.90 million during the quarter, compared to analyst estimates of $149.36 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities analysts expect that Franco-Nevada Corp. will post $0.90 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, September 13th. Franco-Nevada Corp.’s dividend payout ratio (DPR) is presently 275.00%.
Several large investors have recently made changes to their positions in the company. New Harbor Financial Group LLC raised its stake in shares of Franco-Nevada Corp. by 0.9% in the third quarter. New Harbor Financial Group LLC now owns 8,465 shares of the company’s stock worth $591,000 after buying an additional 75 shares during the period. Capstone Asset Management Co. raised its position in Franco-Nevada Corp. by 4.2% in the third quarter. Capstone Asset Management Co. now owns 20,040 shares of the company’s stock valued at $1,400,000 after buying an additional 810 shares during the last quarter. Independence Advisors LLC acquired a new position in Franco-Nevada Corp. during the third quarter valued at $231,000. Carnick & Kubik Group LLC acquired a new position in Franco-Nevada Corp. during the second quarter valued at $230,000. Finally, IFP Advisors Inc raised its position in Franco-Nevada Corp. by 15.3% in the second quarter. IFP Advisors Inc now owns 1,317 shares of the company’s stock valued at $100,000 after buying an additional 175 shares during the last quarter. 64.49% of the stock is currently owned by institutional investors.
Franco-Nevada Corp. Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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