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

Franco-Nevada (NYSE:FNV) (TSE:FNV) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. HC Wainwright lifted their price objective on Franco-Nevada from $285.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. UBS Group restated a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Finally, Canaccord Genuity Group cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $257.25.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $255.48 on Tuesday. Franco-Nevada has a 52-week low of $140.03 and a 52-week high of $285.67. The firm has a market capitalization of $49.26 billion, a P/E ratio of 44.35, a P/E/G ratio of 2.64 and a beta of 0.47. The stock has a 50 day moving average price of $251.76 and a 200-day moving average price of $223.64.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.18. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The company had revenue of $597.30 million during the quarter, compared to analyst estimates of $542.02 million. During the same period last year, the business earned $0.95 EPS. Franco-Nevada’s quarterly revenue was up 86.1% compared to the same quarter last year. On average, equities analysts forecast that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Franco-Nevada

A number of large investors have recently made changes to their positions in FNV. GAMMA Investing LLC lifted its stake in shares of Franco-Nevada by 112.3% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 64 shares during the period. Transamerica Financial Advisors LLC bought a new stake in Franco-Nevada during the fourth quarter valued at approximately $25,000. Burkett Financial Services LLC purchased a new stake in Franco-Nevada during the third quarter valued at approximately $28,000. Private Trust Co. NA bought a new position in Franco-Nevada in the fourth quarter worth approximately $29,000. Finally, Navalign LLC purchased a new stake in shares of Franco-Nevada in the 4th quarter worth $34,000. 77.06% of the stock is currently owned by institutional investors.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.