Franco-Nevada (NYSE:FNV) Earns Buy Rating from Analysts at UBS Group

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

FNV has been the subject of several other reports. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.86.

Franco-Nevada Stock Performance

FNV opened at $123.23 on Monday. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $137.60. The firm has a market cap of $23.72 billion, a P/E ratio of -39.00, a price-to-earnings-growth ratio of 20.46 and a beta of 0.75. The business’s fifty day moving average is $126.13 and its 200-day moving average is $123.90.

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

Franco-Nevada Announces Dividend

The firm 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. This represents a $1.44 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s payout ratio is currently -45.57%.

Institutional Trading of Franco-Nevada

Several institutional investors have recently modified their holdings of FNV. Mechanics Financial Corp lifted its holdings in 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 period. Mather Group LLC. acquired a new position in shares of Franco-Nevada in the second quarter worth approximately $33,000. Kings Path Partners LLC bought a new stake in Franco-Nevada in the second quarter valued at approximately $36,000. Sunbelt Securities Inc. increased its position in Franco-Nevada by 3,333.3% during the 2nd 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 period. Finally, Point72 DIFC Ltd acquired a new stake in Franco-Nevada during the 3rd quarter valued at approximately $52,000. 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.