Franco-Nevada Corporation (FNV) Stock Rating Lowered by Zacks Investment Research
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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 equities research analysts also recently commented on FNV. Barclays PLC reduced their target price on Franco-Nevada Corporation from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, July 13th. BidaskClub cut Franco-Nevada Corporation from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Credit Suisse Group set a $78.00 price target on Franco-Nevada Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. TD Securities raised their price target on Franco-Nevada Corporation from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, Scotiabank raised their price target on Franco-Nevada Corporation from $78.00 to $79.50 and gave the company a “sector perform” rating in a research report on Thursday, August 10th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Franco-Nevada Corporation presently has a consensus rating of “Hold” and a consensus target price of $85.80.
Franco-Nevada Corporation (FNV) traded down $0.50 during trading on Friday, reaching $83.98. The company’s stock had a trading volume of 433,200 shares, compared to its average volume of 533,306. Franco-Nevada Corporation has a 12 month low of $53.31 and a 12 month high of $85.03. The firm has a market capitalization of $15,597.44, a P/E ratio of 80.75, a P/E/G ratio of 19.84 and a beta of -0.14.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, November 6th. The basic materials company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. Franco-Nevada Corporation had a return on equity of 4.31% and a net margin of 22.12%. The company had revenue of $171.50 million during the quarter, compared to the consensus estimate of $167.07 million. During the same quarter last year, the company earned $0.30 earnings per share. Franco-Nevada Corporation’s quarterly revenue was down .3% compared to the same quarter last year. equities analysts anticipate that Franco-Nevada Corporation will post 1.06 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of FNV. Advisory Services Network LLC increased its position in Franco-Nevada Corporation by 199.0% during the 2nd quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 1,001 shares in the last quarter. Hexavest Inc. increased its position in Franco-Nevada Corporation by 50.7% during the 2nd quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 559 shares in the last quarter. Advisors Asset Management Inc. increased its position in Franco-Nevada Corporation by 453.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 1,575 shares in the last quarter. Gratus Capital LLC purchased a new stake in Franco-Nevada Corporation during the 3rd quarter worth about $201,000. Finally, Blair William & Co. IL purchased a new stake in Franco-Nevada Corporation during the 2nd quarter worth about $210,000. Hedge funds and other institutional investors own 59.99% of the company’s stock.
Franco-Nevada Corporation Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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