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

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on FNV. UBS Group reduced their target price on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. HC Wainwright restated a “buy” rating and issued a $305.00 price target on shares of Franco-Nevada in a research report on Wednesday, May 13th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. Bank of America cut their target price on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Finally, TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and reduced their target price for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Stock Down 1.8%

Shares of NYSE FNV opened at $236.36 on Tuesday. The stock’s 50 day moving average price is $215.46 and its two-hundred day moving average price is $235.49. Franco-Nevada has a 52-week low of $173.39 and a 52-week high of $285.67. The stock has a market capitalization of $45.59 billion, a P/E ratio of 30.90, a PEG ratio of 2.03 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The business had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. Franco-Nevada had a return on equity of 18.98% and a net margin of 63.79%.The business’s revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 EPS. On average, analysts anticipate that Franco-Nevada will post 8.23 EPS for the current year.

Hedge Funds Weigh In On Franco-Nevada

Hedge funds have recently bought and sold shares of the company. Crescent Grove Advisors LLC purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at about $489,000. PKO Investment Management Joint Stock Co raised its stake in shares of Franco-Nevada by 11.4% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock valued at $14,519,000 after purchasing an additional 7,150 shares during the period. Oxbow Advisors LLC lifted its holdings in shares of Franco-Nevada by 76.0% in the 4th quarter. Oxbow Advisors LLC now owns 35,332 shares of the basic materials company’s stock worth $7,324,000 after acquiring an additional 15,260 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Franco-Nevada by 5.1% in the 1st quarter. Bank of Nova Scotia now owns 485,345 shares of the basic materials company’s stock valued at $120,146,000 after purchasing an additional 23,587 shares in the last quarter. Finally, Moran Wealth Management LLC grew its position in shares of Franco-Nevada by 26.7% in the 4th quarter. Moran Wealth Management LLC now owns 10,457 shares of the basic materials company’s stock worth $2,168,000 after buying an additional 2,203 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

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.