Franco-Nevada’s (FNV) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a research note issued to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $155.00 target price on the basic materials company’s stock.

A number of other research analysts have also recently commented on the stock. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price target for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. UBS Group assumed coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 target price on the stock. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Scotiabank lowered their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.33.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $136.30 on Tuesday. The firm has a market capitalization of $26.24 billion, a P/E ratio of -43.13, a price-to-earnings-growth ratio of 7.08 and a beta of 0.72. Franco-Nevada has a 1-year low of $103.64 and a 1-year high of $137.76. The company’s 50-day moving average is $123.15 and its 200 day moving average is $124.20.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s quarterly revenue was down 10.9% compared to the same quarter last year. Research analysts anticipate that Franco-Nevada will post 3.18 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada’s payout ratio is currently -45.57%.

Hedge Funds Weigh In On Franco-Nevada

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in shares of Franco-Nevada by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after buying an additional 193,968 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Franco-Nevada by 13.9% in the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after acquiring an additional 424,810 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after purchasing an additional 537,047 shares during the last quarter. M&G PLC increased its position in shares of Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after purchasing an additional 51,996 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Franco-Nevada by 2.2% during the 3rd quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after purchasing an additional 29,512 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

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.