Franco-Nevada (NYSE:FNV) Upgraded at Canaccord Genuity Group

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

A number of other research analysts have also weighed in on the company. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. TD Securities increased their price objective on Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, August 12th. Scotiabank increased their price objective on Franco-Nevada from $182.00 to $184.00 and gave the company a “sector perform” rating in a report on Tuesday, August 12th. Weiss Ratings lowered Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Bank of America raised their target price on Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $216.14.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $190.04 on Wednesday. The stock has a market capitalization of $36.62 billion, a P/E ratio of 46.69, a price-to-earnings-growth ratio of 1.77 and a beta of 0.42. Franco-Nevada has a 1-year low of $112.70 and a 1-year high of $225.63. The business has a fifty day moving average price of $200.86 and a 200 day moving average price of $177.83.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The firm had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The firm’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. As a group, equities research analysts anticipate that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $1.52 annualized dividend and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is 37.35%.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MGO One Seven LLC grew its stake in shares of Franco-Nevada by 20.5% in the third quarter. MGO One Seven LLC now owns 3,953 shares of the basic materials company’s stock valued at $881,000 after buying an additional 673 shares in the last quarter. Bristlecone Advisors LLC purchased a new position in Franco-Nevada in the third quarter valued at $223,000. ORG Wealth Partners LLC purchased a new position in Franco-Nevada in the third quarter valued at $124,000. FengHe Fund Management Pte. Ltd. purchased a new position in Franco-Nevada in the third quarter valued at $15,693,000. Finally, HB Wealth Management LLC boosted its holdings in Franco-Nevada by 7.4% in the third quarter. HB Wealth Management LLC now owns 2,303 shares of the basic materials company’s stock valued at $513,000 after purchasing an additional 159 shares during the period. Institutional investors and hedge funds 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.