Franco-Nevada (NYSE:FNV) Sets New 52-Week High - Still a Buy?

Shares of Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $139.68 and last traded at $137.67, with a volume of 684587 shares. The stock had previously closed at $137.10.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group began coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a "buy" rating and a $160.00 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $155.00 price target on shares of Franco-Nevada in a research note on Tuesday, January 28th. Jefferies Financial Group dropped their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a research note on Thursday, October 17th. Scotiabank lowered 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 report on Friday, November 8th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of "Moderate Buy" and an average price target of $145.33.

Franco-Nevada Trading Down 0.3 %

The firm has a market cap of $27.21 billion, a PE ratio of -44.72, a P/E/G ratio of 9.88 and a beta of 0.74. The stock's 50 day moving average price is $125.16 and its 200 day moving average price is $124.72.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted 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 firm had revenue of $275.70 million for the quarter, compared to analysts' expectations of $279.11 million. During the same quarter in the prior year, the business earned $0.91 EPS. The company's revenue for the quarter was down 10.9% on a year-over-year basis. Analysts forecast that Franco-Nevada Co. will post 3.1 earnings per share for the current year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.38 dividend. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Thursday, March 13th. Franco-Nevada's dividend payout ratio (DPR) is presently -45.57%.

Institutional Trading of Franco-Nevada

A number of institutional investors and hedge funds have recently made changes to their positions in FNV. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Franco-Nevada by 18.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,318 shares of the basic materials company's stock valued at $156,000 after acquiring an additional 204 shares during the period. Covea Finance acquired a new position in Franco-Nevada during the 3rd quarter valued at about $12,256,000. Annex Advisory Services LLC grew its position in Franco-Nevada by 9.0% in the 3rd quarter. Annex Advisory Services LLC now owns 127,857 shares of the basic materials company's stock worth $15,886,000 after purchasing an additional 10,544 shares during the last quarter. Creative Planning increased its stake in shares of Franco-Nevada by 3.4% in the third quarter. Creative Planning now owns 12,456 shares of the basic materials company's stock valued at $1,548,000 after purchasing an additional 409 shares during the period. Finally, McCollum Christoferson Group LLC raised its holdings in shares of Franco-Nevada by 2.1% during the third quarter. McCollum Christoferson Group LLC now owns 34,656 shares of the basic materials company's stock valued at $4,306,000 after buying an additional 705 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.