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

Canaccord Genuity Group downgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a strong-buy rating to a hold rating in a research note released on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Raymond James Financial lifted their price target on Franco-Nevada from $203.00 to $218.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. CIBC reaffirmed an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. HC Wainwright raised their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Finally, TD Securities boosted 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. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.57.

Franco-Nevada Price Performance

FNV stock opened at $220.55 on Thursday. The stock has a market cap of $42.50 billion, a price-to-earnings ratio of 54.19, a P/E/G ratio of 2.85 and a beta of 0.42. The company has a 50 day simple moving average of $190.09 and a 200 day simple moving average of $172.51. Franco-Nevada has a 1 year low of $112.70 and a 1 year high of $225.63.

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 for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The firm had revenue of $369.40 million for the quarter, compared to analysts’ expectations of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company’s revenue was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, equities research analysts anticipate that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio is 37.35%.

Institutional Trading of Franco-Nevada

A number of institutional investors have recently bought and sold shares of FNV. Massachusetts Financial Services Co. MA boosted its position in shares of Franco-Nevada by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock valued at $1,923,400,000 after purchasing an additional 207,232 shares in the last quarter. Vanguard Group Inc. lifted its stake in Franco-Nevada by 3.1% in the second quarter. Vanguard Group Inc. now owns 8,086,420 shares of the basic materials company’s stock valued at $1,327,612,000 after buying an additional 241,081 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Franco-Nevada by 35.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock worth $528,289,000 after buying an additional 838,853 shares in the last quarter. Norges Bank acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth approximately $460,218,000. Finally, TD Asset Management Inc increased its stake in shares of Franco-Nevada by 4.4% in the 2nd quarter. TD Asset Management Inc now owns 2,011,787 shares of the basic materials company’s stock valued at $329,626,000 after acquiring an additional 85,117 shares in the last quarter. 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.