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

Franco-Nevada (NYSE:FNV) (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) (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.