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

Key Points

• Wall Street Zen downgraded Franco‑Nevada from a "buy" to a "hold" in its Saturday research note.
• Analyst coverage is split (seven Buy, seven Hold), leaving an overall MarketBeat average rating of "Moderate Buy" and an average price target of $257.25.
• Franco‑Nevada posted a quarterly EPS of $1.85 (beat estimates) and revenue of $597.3M (up 86.1% YoY); the company has a market cap of $50.65B and a P/E of about 45.6.

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

Several other brokerages also recently weighed in on FNV. UBS Group reiterated a "buy" rating and issued a $310.00 price target on shares of Franco-Nevada in a report on Friday, January 30th. Zacks Research downgraded Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Weiss Ratings upgraded Franco-Nevada from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, March 20th. HC Wainwright increased their price target on Franco-Nevada from $285.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, March 12th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $257.25.

Franco-Nevada Price Performance

NYSE:FNV opened at $262.71 on Friday. The firm has a market capitalization of $50.65 billion, a price-to-earnings ratio of 45.61, a PEG ratio of 2.75 and a beta of 0.47. Franco-Nevada has a 1 year low of $152.89 and a 1 year high of $285.67. The business has a 50 day simple moving average of $254.70 and a 200-day simple moving average of $227.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.18. The business had revenue of $597.30 million during the quarter, compared to analyst estimates of $542.02 million. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The company's revenue for the quarter was up 86.1% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. As a group, analysts expect that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Franco-Nevada by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company's stock worth $1,726,741,000 after purchasing an additional 113,916 shares during the period. Van ECK Associates Corp increased its holdings in Franco-Nevada by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company's stock worth $1,542,402,000 after purchasing an additional 842,132 shares during the period. Bank of Montreal Can increased its holdings in Franco-Nevada by 8.9% during the 3rd quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company's stock worth $1,237,510,000 after purchasing an additional 454,175 shares during the period. First Eagle Investment Management LLC increased its holdings in Franco-Nevada by 26.5% during the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company's stock worth $1,062,037,000 after purchasing an additional 1,074,257 shares during the period. Finally, Royal Bank of Canada increased its holdings in Franco-Nevada by 10.2% during the 4th quarter. Royal Bank of Canada now owns 2,808,645 shares of the basic materials company's stock worth $582,177,000 after purchasing an additional 260,793 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company's business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.

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