TD Securities Downgrades Franco-Nevada (NYSE:FNV) to Hold

Franco-Nevada (NYSE:FNV) (TSE:FNV) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a report released on Tuesday,Briefing.com Automated Import reports.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a report on Tuesday, January 28th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. UBS Group began coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $146.71.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $142.62 on Tuesday. The company has a market cap of $27.46 billion, a PE ratio of -45.13, a P/E/G ratio of 9.78 and a beta of 0.73. The company has a fifty day moving average price of $133.80 and a two-hundred day moving average price of $127.30. Franco-Nevada has a 12 month low of $111.98 and a 12 month high of $150.23.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Franco-Nevada will post 3.09 earnings per share for the current year.

Institutional Trading of Franco-Nevada

Institutional investors and hedge funds have recently bought and sold shares of the stock. Covea Finance raised its holdings in Franco-Nevada by 2.7% during the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock worth $11,895,000 after buying an additional 2,700 shares during the period. Horizon Kinetics Asset Management LLC raised its holdings in Franco-Nevada by 1.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after buying an additional 17,232 shares during the period. Telemark Asset Management LLC raised its holdings in Franco-Nevada by 66.7% during the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after buying an additional 20,000 shares during the period. Victory Capital Management Inc. raised its holdings in Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after buying an additional 424,810 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Franco-Nevada by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the basic materials company’s stock worth $50,623,000 after buying an additional 19,589 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.