Franco-Nevada (NYSE:FNV) Raised 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 report released on Wednesday.

A number of other research firms have also recently weighed in on FNV. Raymond James upped their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, March 11th. UBS Group upped their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. HC Wainwright upped their price target on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Finally, Scotiabank boosted their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.63.

Franco-Nevada Stock Performance

Shares of FNV opened at $154.26 on Wednesday. The stock has a market capitalization of $29.70 billion, a P/E ratio of -48.82, a P/E/G ratio of 9.78 and a beta of 0.73. The company’s fifty day moving average is $138.50 and its two-hundred day moving average is $128.80. Franco-Nevada has a 1 year low of $112.70 and a 1 year high of $156.82.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $304.33 million. During the same period in the previous year, the company posted $0.90 EPS. Franco-Nevada’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that Franco-Nevada will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.99%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s dividend payout ratio is 53.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the 4th quarter valued at about $47,000. Physician Wealth Advisors Inc. purchased a new position in Franco-Nevada in the 4th quarter valued at about $49,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada in the 3rd quarter valued at about $52,000. Harbour Investments Inc. lifted its holdings in Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Franco-Nevada in the 3rd quarter valued at about $55,000. 77.06% of the stock is currently 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.