Canaccord Genuity Group Upgrades Franco-Nevada (NYSE:FNV) to "Buy"

Canaccord Genuity Group upgraded shares of Franco-Nevada (NYSE:FNV - Free Report) TSE: FNV from a hold rating to a buy rating in a research note issued to investors on Monday morning.

FNV has been the topic of a number of other reports. StockNews.com upgraded shares of Franco-Nevada from a "sell" rating to a "hold" rating in a report on Thursday, August 22nd. TD Securities raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Bank of America downgraded shares of Franco-Nevada from a "buy" rating to a "neutral" rating and decreased their target price for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Scotiabank decreased their price objective on shares of 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada currently has an average rating of "Moderate Buy" and an average target price of $157.00.

Franco-Nevada Price Performance

FNV traded up $4.51 during mid-day trading on Monday, hitting $118.46. The stock had a trading volume of 739,045 shares, compared to its average volume of 664,002. The stock's fifty day simple moving average is $126.21 and its 200-day simple moving average is $123.96. The firm has a market capitalization of $22.80 billion, a price-to-earnings ratio of -36.93, a price-to-earnings-growth ratio of 19.22 and a beta of 0.75. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $137.60.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company's revenue was down 10.9% on a year-over-year basis. As a group, research analysts expect that Franco-Nevada will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, December 5th. Franco-Nevada's dividend payout ratio (DPR) is -45.57%.

Institutional Trading of Franco-Nevada

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mechanics Financial Corp raised its stake in Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock worth $30,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Franco-Nevada in the 2nd quarter valued at approximately $33,000. Kings Path Partners LLC acquired a new position in shares of Franco-Nevada in the 2nd quarter valued at approximately $36,000. Sunbelt Securities Inc. raised its position in shares of Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock valued at $49,000 after buying an additional 400 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds 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.