Franco-Nevada Corp. (FNV) Cut to Hold at Zacks Investment Research
Franco-Nevada Corp. (NYSE:FNV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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 firms also recently issued reports on FNV. HSBC reiterated a “buy” rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. Deutsche Bank AG reiterated a “sell” rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. TheStreet upgraded shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. TD Securities reiterated a “hold” rating and issued a $77.00 price objective on shares of Franco-Nevada Corp. in a report on Saturday, August 13th. Finally, BMO Capital Markets set a $108.00 price objective on shares of Franco-Nevada Corp. and gave the company a “hold” rating in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. Franco-Nevada Corp. currently has a consensus rating of “Hold” and an average target price of $69.31.
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Shares of Franco-Nevada Corp. (NYSE:FNV) traded up 0.35% during mid-day trading on Monday, reaching $63.67. 276,969 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $71.06 and its 200-day moving average is $70.73. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 188.37 and a beta of 0.18. Franco-Nevada Corp. has a 52-week low of $41.47 and a 52-week high of $81.16.
Franco-Nevada Corp. (NYSE:FNV) last announced its earnings results on Monday, August 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $150.90 million for the quarter, compared to the consensus estimate of $149.36 million. Franco-Nevada Corp. had a net margin of 11.05% and a return on equity of 3.02%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS. On average, equities analysts expect that Franco-Nevada Corp. will post $0.90 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.38%. Franco-Nevada Corp.’s payout ratio is presently 275.00%.
Several large investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in shares of Franco-Nevada Corp. by 15.3% in the second quarter. IFP Advisors Inc now owns 1,317 shares of the company’s stock worth $100,000 after buying an additional 175 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Franco-Nevada Corp. by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,788 shares of the company’s stock worth $211,000 after buying an additional 1,100 shares during the last quarter. Seven Eight Capital LLC acquired a new stake in shares of Franco-Nevada Corp. during the second quarter worth about $221,000. Carnick & Kubik Group LLC acquired a new stake in shares of Franco-Nevada Corp. during the second quarter worth about $230,000. Finally, Independence Advisors LLC acquired a new stake in shares of Franco-Nevada Corp. during the third quarter worth about $231,000. 64.49% of the stock is 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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