Franco-Nevada (NYSE:FNV) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a hold rating to a buy rating in a research report report published on Wednesday.

FNV has been the subject of several other research reports. Royal Bank of Canada upped their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, March 11th. HC Wainwright upped their price objective on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Raymond James upped their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, Scotiabank upped their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average target price of $153.63.

Franco-Nevada Stock Performance

FNV opened at $155.85 on Wednesday. Franco-Nevada has a fifty-two week low of $112.70 and a fifty-two week high of $156.82. The company has a fifty day moving average of $139.63 and a two-hundred day moving average of $129.21. The stock has a market capitalization of $30.01 billion, a price-to-earnings ratio of -49.32, a PEG ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, equities research analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is 53.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FNV. Laurel Wealth Advisors LLC acquired a new stake in Franco-Nevada during the 4th quarter worth $47,000. Physician Wealth Advisors Inc. acquired a new stake in Franco-Nevada during the 4th quarter worth $49,000. Point72 DIFC Ltd acquired a new stake in Franco-Nevada during the 3rd quarter worth $52,000. Harbour Investments Inc. boosted its stake in Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in Franco-Nevada during the 3rd quarter worth $55,000. 77.06% of the stock is owned by hedge funds and other 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.