Franco-Nevada (NYSE:FNV) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

FNV has been the subject of a number of other reports. Bank of America boosted their price target on shares of Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. TD Securities lifted their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, August 12th. Weiss Ratings lowered Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Finally, UBS Group raised their price target on Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.14.

Franco-Nevada Stock Performance

NYSE FNV opened at $183.98 on Friday. The stock has a fifty day moving average of $201.01 and a 200-day moving average of $178.51. The stock has a market capitalization of $35.45 billion, a P/E ratio of 45.20, a price-to-earnings-growth ratio of 1.76 and a beta of 0.42. Franco-Nevada has a 52 week low of $112.70 and a 52 week high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.14. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The business had revenue of $369.40 million for the quarter, compared to analysts’ expectations of $382.70 million. During the same quarter last year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. Equities research analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada’s dividend payout ratio (DPR) is currently 37.35%.

Institutional Trading of Franco-Nevada

Hedge funds have recently added to or reduced their stakes in the business. MTM Investment Management LLC acquired a new stake in Franco-Nevada during the 2nd quarter worth $32,000. Smartleaf Asset Management LLC increased its holdings in shares of 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 in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Franco-Nevada in the first quarter worth about $32,000. Golden State Wealth Management LLC grew its position 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 valued at $34,000 after purchasing an additional 90 shares during the period. Finally, Hexagon Capital Partners LLC grew its position in shares of Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

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.