Franco-Nevada (NYSE:FNV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Several other research firms have also recently weighed in on FNV. Zacks Research raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Raymond James Financial upped their price objective on Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. HC Wainwright raised their target price on Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. UBS Group boosted their price target on Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, Scotiabank increased their price objective on shares of Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $223.43.

Franco-Nevada Stock Performance

NYSE FNV opened at $207.39 on Monday. Franco-Nevada has a one year low of $114.81 and a one year high of $225.63. The stock has a 50-day moving average of $202.01 and a 200 day moving average of $182.20. The company has a market capitalization of $39.98 billion, a price-to-earnings ratio of 50.96, a PEG ratio of 1.70 and a beta of 0.40.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.06. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $448.51 million. During the same period in the previous year, the company earned $0.80 earnings per share. The firm’s quarterly revenue was up 76.9% on a year-over-year basis. On average, equities analysts predict that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $1.52 annualized dividend and a yield of 0.7%. Franco-Nevada’s payout ratio is currently 31.87%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently bought and sold shares of the business. FORA Capital LLC raised its position in Franco-Nevada by 169.8% during the first quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company’s stock valued at $842,000 after purchasing an additional 3,362 shares during the period. Jump Financial LLC bought a new position in shares of Franco-Nevada during the 1st quarter valued at approximately $274,000. Northern Trust Corp raised its holdings in Franco-Nevada by 12.8% during the 1st quarter. Northern Trust Corp now owns 172,675 shares of the basic materials company’s stock valued at $27,207,000 after buying an additional 19,580 shares during the period. Raymond James Financial Inc. lifted its position in Franco-Nevada by 8.4% in the first quarter. Raymond James Financial Inc. now owns 113,164 shares of the basic materials company’s stock worth $17,830,000 after buying an additional 8,732 shares during the last quarter. Finally, Compound Planning Inc. bought a new stake in Franco-Nevada in the first quarter worth $225,000. 77.06% of the stock is owned by 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.