Franco-Nevada (NYSE:FNV) Lowered to “Hold” Rating by Canaccord Genuity Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) was downgraded by equities researchers at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other analysts have also recently commented on FNV. Zacks Research cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. UBS Group lifted their price target on shares of Franco-Nevada from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Franco-Nevada in a research note on Saturday, September 27th. National Bankshares reaffirmed a “sector perform” rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Finally, TD Securities lifted their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $194.57.

Franco-Nevada Stock Performance

FNV stock opened at $220.55 on Thursday. Franco-Nevada has a fifty-two week low of $112.70 and a fifty-two week high of $225.63. The company has a market capitalization of $42.50 billion, a price-to-earnings ratio of 54.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.42. The business’s 50 day moving average price is $190.09 and its two-hundred day moving average price is $172.51.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The company had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $382.70 million. During the same quarter last year, the business posted $0.75 EPS. The firm’s revenue for the quarter was up 42.0% compared to the same quarter last year. Sell-side analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current year.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in FNV. Massachusetts Financial Services Co. MA lifted its position in Franco-Nevada by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock valued at $1,923,400,000 after acquiring an additional 207,232 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Franco-Nevada by 3.1% in the second quarter. Vanguard Group Inc. now owns 8,086,420 shares of the basic materials company’s stock worth $1,327,612,000 after purchasing an additional 241,081 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Franco-Nevada by 35.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after purchasing an additional 838,853 shares in the last quarter. Norges Bank purchased a new stake in shares of Franco-Nevada during the second quarter valued at $460,218,000. Finally, TD Asset Management Inc boosted its position in shares of Franco-Nevada by 4.4% during the second quarter. TD Asset Management Inc now owns 2,011,787 shares of the basic materials company’s stock valued at $329,626,000 after buying an additional 85,117 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Franco-Nevada

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.