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

Wall Street Zen downgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a buy rating to a hold rating in a research note released on Friday.

FNV has been the subject of several other reports. National Bankshares restated a “sector perform” rating on shares of Franco-Nevada in a report on Tuesday, June 24th. TD Securities boosted their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, August 12th. CIBC restated an “outperform” rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, Raymond James Financial increased their target price on Franco-Nevada from $203.00 to $218.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $194.57.

Franco-Nevada Stock Performance

NYSE FNV opened at $220.55 on Friday. The stock has a market cap of $42.50 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 2.89 and a beta of 0.42. Franco-Nevada has a fifty-two week low of $112.70 and a fifty-two week high of $225.63. The stock has a 50 day simple moving average of $190.09 and a two-hundred day simple moving average of $172.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its 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 firm had revenue of $369.40 million for the quarter, compared to analysts’ expectations of $382.70 million. During the same period in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was up 42.0% compared to the same quarter last year. Sell-side analysts predict that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada’s payout ratio is 37.35%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CX Institutional bought a new position in shares of Franco-Nevada in the first quarter worth approximately $30,000. Cullen Frost Bankers Inc. bought a new position in Franco-Nevada in the 1st quarter valued at approximately $32,000. MTM Investment Management LLC purchased a new stake in Franco-Nevada during the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC boosted its stake in Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. Finally, Golden State Wealth Management LLC increased 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 in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.