Franco-Nevada (NYSE:FNV) Rating Increased 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 released on Wednesday morning.

Several other equities research analysts have also recently issued reports on the stock. UBS Group raised their price objective on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Scotiabank raised 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. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, March 11th. Raymond James raised their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada raised their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Trading Down 0.0 %

NYSE:FNV opened at $154.26 on Wednesday. The company’s 50-day moving average price is $138.50 and its 200-day moving average price is $128.80. The company has a market cap 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. Franco-Nevada has a twelve month low of $112.70 and a twelve month high of $156.82.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping 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 firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same period last year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts expect that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.99%. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Laurel Wealth Advisors LLC purchased a new position in shares of Franco-Nevada in the fourth quarter valued at approximately $47,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada in the third quarter worth approximately $52,000. Physician Wealth Advisors Inc. purchased a new position in Franco-Nevada in the fourth quarter worth approximately $49,000. Erste Asset Management GmbH purchased a new position in Franco-Nevada in the third quarter worth approximately $55,000. Finally, Harbour Investments Inc. lifted its stake in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.