Franco-Nevada (NYSE:FNV) Upgraded 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.

Several other research analysts also recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Scotiabank increased their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Tuesday, March 11th. UBS Group increased their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Raymond James increased their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Finally, TD Securities downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $155.85 on Wednesday. Franco-Nevada has a 52-week low of $112.70 and a 52-week high of $156.82. The firm has a market capitalization of $30.01 billion, a PE ratio of -49.32, a PEG ratio of 9.78 and a beta of 0.73. The stock has a fifty day simple moving average of $139.63 and a two-hundred day simple moving average of $129.21.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 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 business had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.98%. 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 (DPR) is presently 53.15%.

Hedge Funds Weigh In On Franco-Nevada

Institutional investors have recently bought and sold shares of the business. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the fourth quarter worth $47,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada in the third quarter worth $52,000. Physician Wealth Advisors Inc. purchased a new position in Franco-Nevada in the fourth quarter worth $49,000. Erste Asset Management GmbH purchased a new position in Franco-Nevada in the third quarter worth $55,000. Finally, Harbour Investments Inc. lifted its stake in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after buying an additional 93 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.