Franco Nevada (NYSE:FNV) Downgraded to “Hold” at ValuEngine

ValuEngine lowered shares of Franco Nevada (NYSE:FNV) (TSE:FNV) from a buy rating to a hold rating in a research report report published on Thursday morning, ValuEngine reports.

A number of other research firms have also issued reports on FNV. Deutsche Bank set a $81.00 price target on shares of Franco Nevada and gave the stock a hold rating in a research report on Thursday, July 11th. GMP Securities lowered shares of Franco Nevada from a buy rating to a hold rating in a research report on Tuesday, July 23rd. TD Securities increased their price target on shares of Franco Nevada from $90.00 to $92.00 and gave the stock a buy rating in a research report on Friday, May 10th. Canaccord Genuity reissued an average rating and issued a $127.00 price target on shares of Franco Nevada in a research report on Friday, July 19th. Finally, Barclays set a $89.00 price target on shares of Franco Nevada and gave the stock a hold rating in a research report on Friday, July 19th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Franco Nevada presently has a consensus rating of Hold and a consensus price target of $93.44.

Shares of FNV traded down $0.42 during midday trading on Thursday, hitting $89.54. The stock had a trading volume of 474,228 shares, compared to its average volume of 467,935. Franco Nevada has a fifty-two week low of $58.26 and a fifty-two week high of $90.78. The stock’s 50-day moving average price is $85.51. The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 76.53, a P/E/G ratio of 15.25 and a beta of 0.06. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.03.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, May 8th. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.28 by $0.07. Franco Nevada had a net margin of 21.16% and a return on equity of 4.64%. The company had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $166.15 million. On average, equities analysts anticipate that Franco Nevada will post 1.42 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its position in Franco Nevada by 10.1% during the first quarter. FMR LLC now owns 13,330,986 shares of the basic materials company’s stock valued at $999,462,000 after acquiring an additional 1,222,750 shares in the last quarter. Beutel Goodman & Co Ltd. raised its position in Franco Nevada by 2.4% during the first quarter. Beutel Goodman & Co Ltd. now owns 2,962,452 shares of the basic materials company’s stock valued at $222,102,000 after acquiring an additional 69,615 shares in the last quarter. TD Asset Management Inc. raised its position in Franco Nevada by 1.4% during the second quarter. TD Asset Management Inc. now owns 2,583,740 shares of the basic materials company’s stock valued at $219,750,000 after acquiring an additional 35,747 shares in the last quarter. Swiss National Bank raised its position in Franco Nevada by 0.4% during the second quarter. Swiss National Bank now owns 1,472,300 shares of the basic materials company’s stock valued at $124,954,000 after acquiring an additional 5,600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Franco Nevada by 7.0% during the first quarter. The Manufacturers Life Insurance Company now owns 1,440,654 shares of the basic materials company’s stock valued at $108,121,000 after acquiring an additional 94,382 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.

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Analyst Recommendations for Franco Nevada (NYSE:FNV)

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