Franco-Nevada (NYSE:FNV) Upgraded to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a hold rating to a buy rating in a research report released on Monday.

Other equities analysts have also recently issued reports about the stock. HC Wainwright raised their price target on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.86.

Franco-Nevada Trading Up 1.5 %

FNV opened at $123.23 on Monday. The firm’s fifty day simple moving average is $126.13 and its 200 day simple moving average is $123.90. The stock has a market capitalization of $23.72 billion, a P/E ratio of -39.00, a P/E/G ratio of 20.46 and a beta of 0.75. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. On average, equities research analysts predict that Franco-Nevada will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.36 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.17%. Franco-Nevada’s dividend payout ratio is -45.57%.

Institutional Investors Weigh In On Franco-Nevada

Hedge funds have recently added to or reduced their stakes in the business. Mechanics Financial Corp lifted its stake in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. acquired a new stake in Franco-Nevada during the second quarter worth approximately $33,000. Kings Path Partners LLC bought a new stake in shares of Franco-Nevada during the second quarter worth approximately $36,000. Sunbelt Securities Inc. grew its position in shares of Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in shares of Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 110 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.