Franco-Nevada (NYSE:FNV) Stock Rating Upgraded by Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a hold rating to a buy rating in a report published on Monday morning.

FNV has been the topic of a number of other reports. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group dropped their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday. Finally, HC Wainwright lifted their price objective on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

Franco-Nevada Price Performance

Shares of FNV stock opened at $121.49 on Monday. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of -38.45, a PEG ratio of 19.22 and a beta of 0.75. The company’s fifty day moving average price is $126.17 and its 200-day moving average price is $123.91. Franco-Nevada has a one year low of $102.29 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same period in the prior year, the firm posted $0.91 earnings per share. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. Equities research analysts expect that Franco-Nevada will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.19%. Franco-Nevada’s dividend payout ratio is presently -45.57%.

Hedge Funds Weigh In On Franco-Nevada

A number of large investors have recently bought and sold shares of the business. Mechanics Financial Corp raised its holdings in Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. purchased a new position in Franco-Nevada during the 2nd quarter worth $33,000. Kings Path Partners LLC acquired a new position in Franco-Nevada during the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. raised its stake in Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after buying an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Franco-Nevada by 33.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 110 shares in the last quarter. 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.