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 sent to investors on Monday.

FNV has been the subject of several other reports. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday. Scotiabank lowered their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Franco-Nevada Price Performance

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 50 day simple moving average of $126.17 and a two-hundred day simple moving average of $123.91.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share 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 company had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same period in the previous year, the firm posted $0.91 EPS. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. As a group, sell-side analysts expect that Franco-Nevada will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Franco-Nevada by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock worth $878,696,000 after purchasing an additional 129,876 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after buying an additional 110 shares during the period. Clearbridge Investments LLC increased its holdings in Franco-Nevada by 9.5% during the first quarter. Clearbridge Investments LLC now owns 6,177 shares of the basic materials company’s stock valued at $736,000 after buying an additional 535 shares during the last quarter. UniSuper Management Pty Ltd raised its position in Franco-Nevada by 92.9% in the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the basic materials company’s stock worth $322,000 after acquiring an additional 1,300 shares during the period. Finally, Natixis bought a new position in Franco-Nevada in the first quarter worth approximately $114,000. 77.06% of the stock is currently owned by hedge funds and other 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.