Franco-Nevada (NYSE:FNV) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a hold (c+) rating to a buy (b-) rating in a research note published on Saturday morning,Weiss Ratings reports.

Other analysts have also issued reports about the company. Zacks Research raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. UBS Group upped their price objective on shares of Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Raymond James Financial boosted their target price on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, TD Securities lifted their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.14.

Franco-Nevada Trading Down 3.2%

NYSE FNV opened at $183.98 on Friday. Franco-Nevada has a 1-year low of $112.70 and a 1-year high of $225.63. The company has a 50 day moving average of $201.01 and a 200-day moving average of $178.51. The company has a market cap of $35.45 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 1.76 and a beta of 0.42.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The firm had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. During the same quarter last year, the company earned $0.75 EPS. The company’s revenue was up 42.0% on a year-over-year basis. On average, equities research analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were given a $0.38 dividend. The ex-dividend date was Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is currently 37.35%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FNV. Cullen Frost Bankers Inc. bought a new position in shares of Franco-Nevada in the 1st quarter valued at $32,000. MTM Investment Management LLC acquired a new position in Franco-Nevada in the 2nd quarter worth about $32,000. Smartleaf Asset Management LLC increased its holdings in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Franco-Nevada by 78.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 90 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 188 shares during the last quarter. 77.06% of the stock is currently owned by 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.