Franco-Nevada (NYSE:FNV) Now Covered by UBS Group

UBS Group assumed coverage on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $160.00 price objective on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on FNV. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Scotiabank dropped their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday. Finally, TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $148.86.

Franco-Nevada Stock Up 1.5 %

Shares of FNV stock opened at $123.23 on Monday. The firm has a 50 day moving average of $126.13 and a 200-day moving average of $123.90. The company has a market cap of $23.72 billion, a price-to-earnings ratio of -39.00, a price-to-earnings-growth ratio of 20.46 and a beta of 0.75. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted 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). The company 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 company’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. Analysts anticipate that Franco-Nevada will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

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

Hedge Funds Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mechanics Financial Corp grew its stake in Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Franco-Nevada during the second quarter valued at about $33,000. Kings Path Partners LLC bought a new position in shares of Franco-Nevada in the second quarter valued at approximately $36,000. Sunbelt Securities Inc. lifted its stake in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Franco-Nevada by 33.3% in 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 own 77.06% of the company’s stock.

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.