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

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

FNV has been the subject of a number of other research reports. Bank of America increased their price objective on Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. TD Securities dropped their price target on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research report on Wednesday, November 5th. UBS Group boosted their price objective on shares of Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Raymond James Financial upped their price objective on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $223.43.

Franco-Nevada Stock Up 0.0%

Franco-Nevada stock opened at $195.20 on Friday. The company has a market capitalization of $37.63 billion, a PE ratio of 47.96, a P/E/G ratio of 1.70 and a beta of 0.40. The firm has a fifty day simple moving average of $202.43 and a two-hundred day simple moving average of $181.08. Franco-Nevada has a twelve month low of $114.81 and a twelve month high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The company had revenue of $487.70 million during the quarter, compared to analyst estimates of $448.51 million. During the same quarter in the previous year, the company posted $0.80 EPS. Franco-Nevada’s revenue for the quarter was up 76.9% on a year-over-year basis. As a group, equities analysts expect that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s dividend payout ratio (DPR) is presently 31.87%.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds have recently bought and sold shares of FNV. Envestnet Asset Management Inc. boosted its stake in shares of Franco-Nevada by 36.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company’s stock worth $9,200,000 after buying an additional 15,483 shares during the last quarter. FORA Capital LLC increased its position in Franco-Nevada by 169.8% during the first quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company’s stock valued at $842,000 after acquiring an additional 3,362 shares during the last quarter. Jump Financial LLC bought a new position in Franco-Nevada in the first quarter valued at about $274,000. Principal Financial Group Inc. lifted its holdings in Franco-Nevada by 34.4% in the first quarter. Principal Financial Group Inc. now owns 10,710 shares of the basic materials company’s stock valued at $1,684,000 after acquiring an additional 2,739 shares during the period. Finally, Northern Trust Corp boosted its position in Franco-Nevada by 12.8% in the first quarter. Northern Trust Corp now owns 172,675 shares of the basic materials company’s stock worth $27,207,000 after purchasing an additional 19,580 shares during the last quarter. Institutional investors 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.