Franco-Nevada (NYSE:FNV) Stock Rating Lowered by Canaccord Genuity Group

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV was downgraded by equities researchers at Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

FNV has been the subject of a number of other reports. Scotiabank boosted their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. UBS Group boosted their price target on shares of Franco-Nevada from $210.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Wall Street Zen lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Friday. HC Wainwright lifted their price objective on Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $194.57.

Franco-Nevada Trading Up 1.4%

FNV opened at $220.55 on Thursday. The stock has a market capitalization of $42.50 billion, a P/E ratio of 54.19, a PEG ratio of 2.85 and a beta of 0.42. The stock has a 50-day moving average price of $190.09 and a 200-day moving average price of $172.51. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $225.63.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data 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 company had revenue of $369.40 million for the quarter, compared to analysts' expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada's revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. On average, equities research analysts predict that Franco-Nevada will post 3.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. CX Institutional bought a new position in Franco-Nevada during the 1st quarter valued at approximately $30,000. Cullen Frost Bankers Inc. purchased a new position in shares of Franco-Nevada during the first quarter valued at approximately $32,000. MTM Investment Management LLC bought a new position in shares of Franco-Nevada during the second quarter valued at approximately $32,000. Smartleaf Asset Management LLC lifted its stake in Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company's stock worth $32,000 after acquiring an additional 168 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in Franco-Nevada by 78.3% in the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.