Franco-Nevada (NYSE:FNV) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a research report released on Friday, Benzinga reports. The firm currently has a $185.00 price target on the basic materials company’s stock.

A number of other equities research analysts have also recently commented on FNV. Scotiabank raised their price target on shares of Franco-Nevada from $140.00 to $141.00 and gave the stock a sector perform rating in a report on Thursday, May 23rd. StockNews.com cut shares of Franco-Nevada from a hold rating to a sell rating in a report on Wednesday, August 14th. Bank of America raised their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a buy rating in a report on Wednesday, June 26th. TD Cowen upgraded shares of Franco-Nevada from a hold rating to a buy rating in a report on Thursday, August 15th. Finally, TD Securities upgraded shares of Franco-Nevada from a hold rating to a buy rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $152.75.

Franco-Nevada Stock Up 1.2 %

FNV opened at $123.25 on Friday. Franco-Nevada has a twelve month low of $102.29 and a twelve month high of $146.43. The company has a fifty day moving average of $122.06 and a 200-day moving average of $118.93. The stock has a market cap of $23.72 billion, a PE ratio of -49.50, a price-to-earnings-growth ratio of 21.14 and a beta of 0.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). The firm had revenue of $260.10 million for the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The company’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. Sell-side analysts anticipate that Franco-Nevada will post 3.27 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, September 12th. Franco-Nevada’s dividend payout ratio (DPR) is -57.83%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Sunbelt Securities Inc. lifted its position in shares of Franco-Nevada by 3,333.3% during 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Franco-Nevada by 18.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,318 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 204 shares in the last quarter. Creative Planning lifted its position in shares of Franco-Nevada by 15.4% during the second quarter. Creative Planning now owns 12,047 shares of the basic materials company’s stock valued at $1,428,000 after purchasing an additional 1,608 shares in the last quarter. Susquehanna Portfolio Strategies LLC lifted its position in shares of Franco-Nevada by 0.3% during the second quarter. Susquehanna Portfolio Strategies LLC now owns 95,699 shares of the basic materials company’s stock valued at $11,342,000 after purchasing an additional 299 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its position in shares of Franco-Nevada by 33.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 15,024 shares of the basic materials company’s stock valued at $1,781,000 after purchasing an additional 3,724 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

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.