Franco-Nevada (NYSE:FNV) Upgraded to Buy by TD Cowen

TD Cowen upgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a hold rating to a buy rating in a research report sent to investors on Thursday, MarketBeat Ratings reports.

FNV has been the topic of a number of other reports. Scotiabank upped their target price on shares of Franco-Nevada from $140.00 to $141.00 and gave the company a sector perform rating in a report on Thursday, May 23rd. HC Wainwright upped their price objective on shares of Franco-Nevada from $175.00 to $185.00 and gave the company a buy rating in a research note on Monday, May 6th. StockNews.com downgraded shares of Franco-Nevada from a hold rating to a sell rating in a research note on Wednesday, August 14th. Jefferies Financial Group upped their price objective on shares of Franco-Nevada from $129.00 to $133.00 and gave the company a hold rating in a research note on Friday, July 12th. Finally, Bank of America upped their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a buy rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $152.63.

Franco-Nevada Trading Up 1.6 %

NYSE:FNV opened at $121.79 on Thursday. The firm has a market cap of $23.44 billion, a price-to-earnings ratio of -48.91, a price-to-earnings-growth ratio of 21.14 and a beta of 0.74. The company’s 50-day moving average is $122.06 and its two-hundred day moving average is $118.93. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $146.43.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. Franco-Nevada’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. On average, equities research analysts forecast that Franco-Nevada will post 3.27 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

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

Institutional Trading of Franco-Nevada

A number of institutional investors and hedge funds have recently bought and sold shares of FNV. International Assets Investment Management LLC acquired a new stake in Franco-Nevada during the 4th quarter worth approximately $3,447,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Franco-Nevada by 50.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 183,135 shares of the basic materials company’s stock valued at $20,384,000 after acquiring an additional 61,354 shares in the last quarter. Euro Pacific Asset Management LLC grew its position in Franco-Nevada by 20.7% in the fourth quarter. Euro Pacific Asset Management LLC now owns 129,779 shares of the basic materials company’s stock valued at $14,380,000 after acquiring an additional 22,243 shares in the last quarter. Duality Advisers LP acquired a new stake in Franco-Nevada in the fourth quarter valued at approximately $2,538,000. Finally, Significant Wealth Partners LLC acquired a new stake in Franco-Nevada in the fourth quarter valued at approximately $780,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

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.