Franco-Nevada Corporation (NYSE:FNV) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) from a buy rating to a hold rating in a research report report published on Friday.
According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “
A number of other research firms have also commented on FNV. Barclays PLC restated an equal weight rating and issued a $74.00 price target (up from $68.00) on shares of Franco-Nevada Corporation in a research report on Tuesday, June 6th. Deutsche Bank AG reiterated a hold rating and set a $64.00 target price (down from $65.00) on shares of Franco-Nevada Corporation in a research report on Sunday, June 25th. ValuEngine upgraded shares of Franco-Nevada Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Franco-Nevada Corporation from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Finally, Credit Suisse Group set a $78.00 target price on shares of Franco-Nevada Corporation and gave the stock a buy rating in a research report on Tuesday, July 18th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $77.86.
Franco-Nevada Corporation (FNV) opened at 72.46 on Friday. The firm has a 50-day moving average of $72.23 and a 200-day moving average of $68.59. The company has a market cap of $13.10 billion, a PE ratio of 95.22 and a beta of -0.03. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $81.16.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The firm had revenue of $172.70 million for the quarter, compared to analyst estimates of $158.75 million. Franco-Nevada Corporation had a net margin of 21.17% and a return on equity of 4.35%. During the same period in the previous year, the business earned $0.17 earnings per share. On average, analysts predict that Franco-Nevada Corporation will post $0.98 EPS for the current year.
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Large investors have recently bought and sold shares of the stock. Hexavest Inc. increased its stake in Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after buying an additional 559 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Franco-Nevada Corporation by 224.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,353 shares of the basic materials company’s stock valued at $199,000 after buying an additional 2,320 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in Franco-Nevada Corporation during the first quarter valued at about $201,000. Schroder Investment Management Group purchased a new position in Franco-Nevada Corporation during the first quarter valued at about $222,000. Finally, Gluskin Sheff & Assoc Inc. purchased a new position in Franco-Nevada Corporation during the first quarter valued at about $225,000. Institutional investors own 63.12% of the company’s stock.
About Franco-Nevada Corporation
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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