Analysts on Wall Street Lower Ratings for These 5 Stocks

03. Franco-Nevada Corporation (NYSE:FNV)

Price Reaction after the Downgrade: -4.72 (-3.74%)

TD Securities analyst Greg Barnes recently adjusted the outlook for Franco-Nevada Corporation (NYSE:FNV) by downgrading the stock from Buy to Hold. This strategic shift was accompanied by a notable reduction in the price target, now set at $145.00, down from the previous $180.00. The latest market data reveals Franco-Nevada Corporation (NYSE:FNV) current stock price at $121.60, reflecting a decrease of 3.7% following the downgrade. Barnes’ decision to move FFranco-Nevada Corporation (NYSE:FNV) from a Buy rating to Hold suggests a reevaluation of their outlook on the company’s performance.

Here is what Horizon Kinetics has to say about Franco-Nevada Corporation (NYSE:FNV) in its Q3 2022 investor letter:

“Back to basic principles. We don’t hold gold in client portfolios, we hold gold royalty companies. The two have surprisingly little in common. The gold royalty company generates very impressive profits even if the gold price never rises, and it earns those profits year after year. Here is a long-term chart of Franco Nevada Corp., the premier gold royalty company vs. gold itself: a comparable gold price today than a decade ago, yet Franco Nevada returned 12.5% annually, matching the S&P 500 return, despite its nearsole source of revenues unchanged. What will Franco Nevada’s earnings and share price do if gold rises over the course of a decade?”