Franco-Nevada (NYSE:FNV) Upgraded at Zacks Research

Franco-Nevada (NYSE:FNV) (TSE:FNV) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

FNV has been the subject of several other research reports. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and cut their target price for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Jefferies Financial Group reduced their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. UBS Group dropped their target price on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Stock Performance

FNV opened at $236.36 on Tuesday. The stock has a market cap of $45.59 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 2.03 and a beta of 0.35. The firm’s fifty day moving average is $215.46 and its 200 day moving average is $235.49. Franco-Nevada has a fifty-two week low of $173.39 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.98%. The business had revenue of $580.90 million for the quarter, compared to the consensus estimate of $616.66 million. During the same period in the prior year, the business earned $1.24 earnings per share. Franco-Nevada’s revenue was up 57.3% compared to the same quarter last year. On average, equities research analysts predict that Franco-Nevada will post 8.23 earnings per share for the current year.

Hedge Funds Weigh In On Franco-Nevada

Several institutional investors have recently made changes to their positions in the company. Transamerica Financial Advisors LLC purchased a new position in shares of Franco-Nevada in the fourth quarter worth $25,000. Private Trust Co. NA acquired a new position in shares of Franco-Nevada in the 4th quarter valued at $29,000. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 168 shares during the last quarter. Navalign LLC purchased a new position in Franco-Nevada in the 4th quarter worth $34,000. Finally, Global Retirement Partners LLC acquired a new stake in Franco-Nevada during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.