Franco-Nevada (NYSE:FNV) Raised to "Buy" at StockNews.com

StockNews.com 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.

Several other brokerages have also issued reports on FNV. Royal Bank of Canada upped their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 2nd. UBS Group upped their price objective on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Raymond James increased their price objective on Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, Scotiabank increased their target price on Franco-Nevada from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $160.38.

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Franco-Nevada Trading Up 5.5 %

FNV stock traded up $8.65 during mid-day trading on Monday, reaching $166.13. The company's stock had a trading volume of 2,125,418 shares, compared to its average volume of 686,710. The company has a market cap of $31.99 billion, a price-to-earnings ratio of -52.57, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. Franco-Nevada has a 12 month low of $112.70 and a 12 month high of $167.36. The business's 50 day moving average price is $147.54 and its 200 day moving average price is $132.73.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. During the same quarter last year, the company earned $0.90 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts expect that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 13th. 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 yield of 0.91%. Franco-Nevada's dividend payout ratio is 53.15%.

Institutional Investors Weigh In On Franco-Nevada

Several institutional investors have recently bought and sold shares of the company. Covea Finance lifted its stake in Franco-Nevada by 2.7% during the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company's stock worth $11,895,000 after acquiring an additional 2,700 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Franco-Nevada by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock worth $49,702,000 after purchasing an additional 16,029 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Franco-Nevada by 5.0% during the 4th quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock worth $113,200,000 after buying an additional 45,495 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Franco-Nevada by 113.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company's stock valued at $601,000 after purchasing an additional 2,710 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Franco-Nevada during the fourth quarter worth $12,280,000. 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.