Franco-Nevada (NYSE:FNV) Raised 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 report released on Monday morning, MarketBeat Ratings reports.

A number of other equities research analysts have also commented on FNV. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group decreased their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Scotiabank decreased their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Finally, Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Franco-Nevada Trading Up 3.9 %

FNV stock opened at $118.45 on Monday. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $137.60. The firm has a market cap of $22.80 billion, a P/E ratio of -37.48, a P/E/G ratio of 19.22 and a beta of 0.75. The business’s 50 day moving average is $126.17 and its 200-day moving average is $123.94.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data 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 negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. Sell-side analysts forecast that Franco-Nevada will post 3.22 EPS for the current year.

Franco-Nevada Announces Dividend

The business 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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors have recently made changes to their positions in the stock. Mechanics Financial Corp boosted its holdings in Franco-Nevada by 150.0% during the second 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. bought a new position in Franco-Nevada during the second quarter worth about $33,000. Kings Path Partners LLC bought a new position in Franco-Nevada during the second quarter worth about $36,000. Sunbelt Securities Inc. boosted its holdings in Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Franco-Nevada during the third quarter worth about $52,000. 77.06% of the stock is owned by institutional investors and hedge funds.

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.