Franco Nevada (NYSE:FNV) (TSE:FNV) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note 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. “
Other research analysts also recently issued research reports about the stock. Raymond James Financial dropped their target price on shares of Franco Nevada from $93.00 to $91.00 and set an “outperform” rating for the company in a report on Friday. TD Securities set a $96.00 target price on shares of Franco Nevada and gave the stock a “buy” rating in a report on Friday, December 1st. Scotiabank set a $86.00 target price on shares of Franco Nevada and gave the stock a “hold” rating in a report on Monday, January 22nd. Desjardins reaffirmed a “sell” rating on shares of Franco Nevada in a report on Monday, December 11th. Finally, Credit Suisse Group set a $80.00 target price on shares of Franco Nevada and gave the stock a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $88.00.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, March 7th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $167.00 million during the quarter, compared to analysts’ expectations of $171.99 million. Franco Nevada had a return on equity of 4.38% and a net margin of 28.84%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. equities research analysts expect that Franco Nevada will post 1.21 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in shares of Franco Nevada by 15.3% during the 2nd quarter. IFP Advisors Inc now owns 1,317 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 175 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Franco Nevada by 199.0% during the 2nd quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 1,001 shares during the last quarter. Exane Derivatives boosted its holdings in shares of Franco Nevada by 632.2% during the 1st quarter. Exane Derivatives now owns 1,911 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 1,650 shares during the last quarter. Hexavest Inc. boosted its holdings in shares of Franco Nevada by 50.7% during the 2nd quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 559 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA boosted its holdings in shares of Franco Nevada by 137.5% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 1,900 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 1,100 shares during the last quarter. 63.37% of the stock is owned by institutional investors and hedge funds.
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Franco Nevada 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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