Franco-Nevada (NYSE:FNV) Upgraded by TD Securities to “Buy”

TD Securities 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 Thursday morning, MarketBeat reports.

Several other research firms also recently weighed in on FNV. TD Cowen raised Franco-Nevada from a hold rating to a buy rating in a research report on Thursday. Scotiabank boosted their price objective on shares of Franco-Nevada from $140.00 to $141.00 and gave the company a sector perform rating in a research report on Thursday, May 23rd. StockNews.com downgraded shares of Franco-Nevada from a hold rating to a sell rating in a research note on Wednesday, August 14th. Jefferies Financial Group lifted their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a hold rating in a research note on Friday, July 12th. Finally, HC Wainwright increased their price objective on shares of Franco-Nevada from $175.00 to $185.00 and gave the stock a buy rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $152.63.

Franco-Nevada Stock Up 1.6 %

Franco-Nevada stock opened at $121.79 on Thursday. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $146.43. The firm’s fifty day moving average is $122.06 and its 200 day moving average is $118.93. The company has a market cap of $23.44 billion, a price-to-earnings ratio of -48.91, a PEG ratio of 21.14 and a beta of 0.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). The business had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. During the same quarter in the prior year, the company posted $0.95 earnings per share. The firm’s quarterly revenue was down 21.2% compared to the same quarter last year. On average, equities research analysts anticipate that Franco-Nevada will post 3.27 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. Franco-Nevada’s dividend payout ratio is currently -57.83%.

Hedge Funds Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in Franco-Nevada during the 4th quarter valued at approximately $3,447,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Franco-Nevada by 50.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 183,135 shares of the basic materials company’s stock worth $20,384,000 after acquiring an additional 61,354 shares during the last quarter. Euro Pacific Asset Management LLC lifted its position in Franco-Nevada by 20.7% during the 4th quarter. Euro Pacific Asset Management LLC now owns 129,779 shares of the basic materials company’s stock worth $14,380,000 after acquiring an additional 22,243 shares during the period. Duality Advisers LP purchased a new stake in Franco-Nevada during the 4th quarter valued at about $2,538,000. Finally, Significant Wealth Partners LLC acquired a new position in shares of Franco-Nevada in the fourth quarter valued at about $780,000. Hedge funds and other 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.