Franco-Nevada (NYSE:FNV) Upgraded by Canaccord Genuity Group to Buy Rating

Canaccord Genuity Group upgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a hold rating to a buy rating in a research report released on Monday morning, MarketBeat.com reports.

A number of other analysts have also recently weighed in on FNV. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Jefferies Financial Group reduced their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.00.

Franco-Nevada Trading Up 3.9 %

FNV opened at $118.45 on Monday. The stock has a market cap of $22.80 billion, a price-to-earnings ratio of -37.48, a PEG ratio of 19.22 and a beta of 0.75. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60. The stock has a fifty day moving average price of $126.17 and a 200 day moving average price of $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 (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 negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. As a group, sell-side analysts forecast that Franco-Nevada will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.22%. Franco-Nevada’s dividend payout ratio is presently -45.57%.

Hedge Funds Weigh In On Franco-Nevada

Large investors have recently made changes to their positions in the business. Mechanics Financial Corp increased its stake in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 150 shares during the period. Mather Group LLC. bought a new position in Franco-Nevada during the second quarter valued at about $33,000. Kings Path Partners LLC bought a new position in Franco-Nevada during the second quarter valued at about $36,000. Sunbelt Securities Inc. increased its stake 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 valued at $49,000 after acquiring an additional 400 shares during the period. Finally, Hillsdale Investment Management Inc. increased its stake in Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 110 shares during the period. 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.