Franco Nevada (NYSE:FNV) (TSE:FNV) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, December 19th.
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 have also weighed in on FNV. Scotiabank raised their price objective on Franco Nevada from $79.50 to $82.00 and gave the company a “sector perform” rating in a research report on Friday, September 8th. Royal Bank of Canada reissued an “outperform” rating on shares of Franco Nevada in a report on Thursday, September 7th. TD Securities lifted their target price on Franco Nevada from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Canaccord Genuity reissued a “buy” rating and issued a $121.00 target price on shares of Franco Nevada in a report on Tuesday, November 7th. Finally, ValuEngine upgraded Franco Nevada from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.10.
Shares of Franco Nevada (NYSE FNV) traded up $0.89 during trading hours on Tuesday, hitting $78.19. The stock had a trading volume of 884,800 shares, compared to its average volume of 561,807. Franco Nevada has a 12-month low of $60.10 and a 12-month high of $86.06. The company has a market cap of $14,356.75, a price-to-earnings ratio of 98.97, a P/E/G ratio of 16.93 and a beta of -0.14.
Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, November 6th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. Franco Nevada had a return on equity of 4.31% and a net margin of 22.12%. The firm had revenue of $171.50 million during the quarter, compared to analyst estimates of $167.07 million. During the same quarter in the prior year, the company earned $0.30 EPS. The business’s revenue was down .3% compared to the same quarter last year. research analysts predict that Franco Nevada will post 1.07 earnings per share for the current year.
Large investors have recently bought and sold shares of the business. Advisory Services Network LLC raised its holdings in Franco Nevada by 199.0% during the second quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 1,001 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Franco Nevada by 453.9% in the third quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 1,575 shares during the last quarter. Gratus Capital LLC bought a new stake in shares of Franco Nevada in the third quarter worth about $201,000. Blair William & Co. IL bought a new stake in shares of Franco Nevada in the second quarter worth about $210,000. Finally, Wright Investors Service Inc. bought a new stake in shares of Franco Nevada in the third quarter worth about $245,000. 61.42% of the stock is currently 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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