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

Key Points

• Franco-Nevada was downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen.
• Raymond James Financial and HC Wainwright raised their price targets for Franco-Nevada shares, with new targets of $188.00 and $200.00, respectively.
• Institutional investors hold 77.06% of Franco-Nevada's stock, indicating strong institutional interest in the company.

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

FNV has been the topic of a number of other reports. Raymond James Financial raised their price target on shares of Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a research note on Tuesday. HC Wainwright increased their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday. TD Securities increased their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a report on Tuesday. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Finally, Royal Bank Of Canada increased their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $178.88.

Franco-Nevada Trading Down 0.2%

Shares of Franco-Nevada stock opened at $177.02 on Friday. The firm has a market capitalization of $34.11 billion, a PE ratio of 43.49, a P/E/G ratio of 2.36 and a beta of 0.36. Franco-Nevada has a twelve month low of $112.70 and a twelve month high of $180.98. The firm's 50-day moving average price is $165.02 and its 200 day moving average price is $158.83.

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

Institutional Trading of Franco-Nevada

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Franco-Nevada by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company's stock worth $1,923,400,000 after buying an additional 207,232 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Franco-Nevada by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,086,420 shares of the basic materials company's stock worth $1,327,612,000 after purchasing an additional 241,081 shares during the period. Capital World Investors boosted its position in shares of Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after purchasing an additional 711,591 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock worth $582,100,000 after purchasing an additional 1,650,358 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Franco-Nevada by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock worth $504,069,000 after purchasing an additional 400,384 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Company Profile

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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