Franco-Nevada (NYSE:FNV) Upgraded to “Buy” 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 published on Friday.

Other equities research analysts have also recently issued reports about the company. UBS Group initiated coverage on Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Royal Bank of Canada boosted 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. HC Wainwright restated a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a report on Tuesday, January 28th. Scotiabank decreased their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $146.71.

Franco-Nevada Trading Up 0.5 %

FNV stock opened at $143.36 on Friday. The stock has a market capitalization of $27.60 billion, a PE ratio of -45.37, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. The stock’s 50 day simple moving average is $133.31 and its 200 day simple moving average is $127.12. Franco-Nevada has a 12-month low of $111.98 and a 12-month high of $146.70.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.38 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is currently -48.10%.

Institutional Trading of Franco-Nevada

Several hedge funds have recently bought and sold shares of the stock. Laurel Wealth Advisors LLC bought a new position in shares of Franco-Nevada in the fourth quarter worth about $47,000. Physician Wealth Advisors Inc. purchased a new stake in Franco-Nevada in the 4th quarter worth approximately $49,000. Point72 DIFC Ltd purchased a new stake in Franco-Nevada in the 3rd quarter worth approximately $52,000. Harbour Investments Inc. raised its stake in Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in Franco-Nevada during the third quarter valued at approximately $55,000. 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.