StockNews.com Lowers Franco-Nevada (NYSE:FNV) to Sell

StockNews.com cut shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Several other research firms have also recently weighed in on FNV. HC Wainwright increased their price objective on Franco-Nevada from $175.00 to $185.00 and gave the company a buy rating in a research report on Monday, May 6th. Jefferies Financial Group upped their target price on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a hold rating in a report on Friday, July 12th. Bank of America increased their target price on Franco-Nevada from $141.00 to $142.00 and gave the stock a buy rating in a report on Wednesday, June 26th. Finally, Scotiabank lifted their price objective on Franco-Nevada from $140.00 to $141.00 and gave the stock a sector perform rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $152.63.

Franco-Nevada Stock Up 1.6 %

NYSE:FNV opened at $121.79 on Wednesday. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $146.43. The firm has a market cap of $23.44 billion, a P/E ratio of -48.91, a PEG ratio of 21.14 and a beta of 0.74. The business’s 50-day moving average price is $122.06 and its 200 day moving average price is $118.79.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The company had revenue of $260.10 million during 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 revenue was down 21.2% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. Sell-side analysts expect that Franco-Nevada will post 3.27 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, September 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Institutional Trading of Franco-Nevada

Several large investors have recently made changes to their positions in FNV. Scotia Capital Inc. lifted its position in Franco-Nevada by 27.1% in the 4th quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock valued at $16,474,000 after acquiring an additional 31,796 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Franco-Nevada by 108.1% in the fourth quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock valued at $50,671,000 after buying an additional 236,503 shares during the period. Alberta Investment Management Corp lifted its holdings in Franco-Nevada by 2.3% during the fourth quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock valued at $49,825,000 after purchasing an additional 10,250 shares during the last quarter. Bornite Capital Management LP bought a new position in Franco-Nevada during the fourth quarter worth about $8,167,000. Finally, Fielder Capital Group LLC purchased a new position in Franco-Nevada in the 4th quarter valued at approximately $906,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.