Franco-Nevada (NYSE:FNV) Downgraded by Canaccord Genuity Group to Hold

Franco-Nevada (NYSE:FNV) (TSE:FNV) was downgraded by 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 topic of a number of other research reports. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. National Bankshares reaffirmed a “sector perform” rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. CIBC reaffirmed an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. UBS Group increased their price objective on Franco-Nevada from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Finally, Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus price target of $194.57.

Franco-Nevada Stock Up 1.4%

FNV opened at $220.55 on Thursday. The firm has a market cap of $42.50 billion, a P/E ratio of 54.19, a PEG ratio of 2.85 and a beta of 0.42. Franco-Nevada has a 52 week low of $112.70 and a 52 week high of $225.63. The business’s fifty day simple moving average is $190.09 and its 200 day simple moving average is $172.51.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data 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. The business had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. As a group, equities analysts expect that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Institutional Trading of Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in the business. CX Institutional purchased a new position in shares of Franco-Nevada in the 1st quarter worth about $30,000. Cullen Frost Bankers Inc. purchased a new position in shares of Franco-Nevada in the 1st quarter worth about $32,000. MTM Investment Management LLC purchased a new position in shares of Franco-Nevada in the 2nd quarter worth about $32,000. Smartleaf Asset Management LLC raised its holdings in shares of Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in shares of 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 worth $34,000 after purchasing an additional 90 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

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.