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 buy rating in a research report released on Monday morning, Marketbeat.com reports.

A number of other equities analysts have also recently issued reports on the company. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group cut their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Scotiabank cut their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Franco-Nevada Trading Up 0.2 %

Shares of NYSE FNV opened at $121.49 on Monday. The firm 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. Franco-Nevada has a one year low of $102.29 and a one year high of $137.60. The business has a fifty day simple moving average of $126.17 and a 200 day simple moving average of $123.91.

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

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Graham Capital Wealth Management LLC raised its position in shares of Franco-Nevada by 0.4% during the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock worth $2,511,000 after acquiring an additional 86 shares during the last quarter. Meixler Investment Management Ltd. boosted its stake in Franco-Nevada by 0.5% in the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after acquiring an additional 101 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Franco-Nevada by 0.5% in the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock worth $2,272,000 after purchasing an additional 101 shares during the last quarter. Huntington National Bank grew its stake in shares of Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 102 shares during the period. Finally, Hillsdale Investment Management Inc. increased its holdings in Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

About Franco-Nevada

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.