Franco-Nevada (NYSE:FNV) Lowered to Hold Rating by Wall Street Zen

Key Points

• Franco-Nevada has been downgraded to a "hold" rating by Wall Street Zen, shifting from a previous "buy" rating.
• Despite this downgrade, the stock saw a slight increase of 1.4% in trading, closing at $220.55.
• Franco-Nevada reported a 42.0% year-over-year revenue growth for the last quarter, with earnings per share of $1.24, surpassing analyst expectations.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Friday.

FNV has been the subject of a number of other reports. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Zacks Research cut Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Raymond James Financial boosted their price target on Franco-Nevada from $203.00 to $218.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Finally, HC Wainwright raised their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.57.

Franco-Nevada Stock Up 1.4%

Shares of NYSE:FNV traded up $3.01 during trading on Friday, hitting $220.55. The stock had a trading volume of 537,520 shares, compared to its average volume of 821,776. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $225.63. The stock has a market capitalization of $42.50 billion, a price-to-earnings ratio of 54.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.42. The stock has a 50-day simple moving average of $190.09 and a two-hundred day simple moving average of $172.51.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The firm had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Franco-Nevada's revenue for the quarter was up 42.0% on a year-over-year basis. As a group, sell-side analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FNV. SBI Securities Co. Ltd. increased its stake in Franco-Nevada by 10.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock worth $108,000 after buying an additional 64 shares in the last quarter. Beacon Financial Group boosted its stake in shares of Franco-Nevada by 1.0% in the second quarter. Beacon Financial Group now owns 7,169 shares of the basic materials company's stock worth $1,175,000 after acquiring an additional 72 shares during the last quarter. Kiker Wealth Management LLC increased its position in shares of Franco-Nevada by 20.5% during the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company's stock worth $77,000 after purchasing an additional 80 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Franco-Nevada by 78.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 90 shares during the last quarter. Finally, Physician Wealth Advisors Inc. raised its stake in Franco-Nevada by 22.7% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 513 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 95 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.

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