Franco-Nevada Corporation (NYSE:FNV) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) from a buy rating to a hold rating in a research note issued to investors on Friday, July 28th.

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. “

Several other equities research analysts have also recently weighed in on the stock. Deutsche Bank AG restated a hold rating and issued a $64.00 price target (down previously 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 cut shares of Franco-Nevada Corporation from a strong-buy rating to a buy rating in a research report on Wednesday, July 5th. Credit Suisse Group set a $80.00 price objective on shares of Franco-Nevada Corporation and gave the company a buy rating in a research report on Wednesday, June 14th. Finally, Scotiabank upped their price target on shares of Franco-Nevada Corporation from $45.00 to $48.00 and gave the stock a sector perform rating in a report on Thursday, May 11th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $77.86.

Franco-Nevada Corporation (NYSE:FNV) traded down 0.82% during trading on Friday, hitting $72.55. 307,273 shares of the company traded hands. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $81.16. The stock has a market capitalization of $13.11 billion, a PE ratio of 95.34 and a beta of -0.03. The company’s 50 day moving average is $72.25 and its 200-day moving average is $68.66.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Franco-Nevada Corporation had a net margin of 21.17% and a return on equity of 4.35%. The company had revenue of $172.70 million for the quarter, compared to analysts’ expectations of $158.75 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. Analysts predict that Franco-Nevada Corporation will post $0.97 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its position in shares of Franco-Nevada Corporation by 53.2% in the second quarter. American Century Companies Inc. now owns 296,094 shares of the basic materials company’s stock valued at $21,365,000 after buying an additional 102,800 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Franco-Nevada Corporation by 1.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 590,330 shares of the basic materials company’s stock valued at $42,520,000 after buying an additional 6,616 shares during the last quarter. Virginia Retirement Systems ET AL raised its position in shares of Franco-Nevada Corporation by 503.6% in the second quarter. Virginia Retirement Systems ET AL now owns 50,700 shares of the basic materials company’s stock valued at $3,653,000 after buying an additional 42,300 shares during the last quarter. Blair William & Co. IL bought a new position in shares of Franco-Nevada Corporation during the second quarter valued at approximately $210,000. Finally, Highstreet Asset Management Inc. raised its position in shares of Franco-Nevada Corporation by 61.9% in the second quarter. Highstreet Asset Management Inc. now owns 40,930 shares of the basic materials company’s stock valued at $2,955,000 after buying an additional 15,642 shares during the last quarter. 63.49% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Corporation Company Profile

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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