Franco-Nevada (NYSE:FNV) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $155.00 price target on the basic materials company’s stock.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Scotiabank lowered their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group lowered their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Franco-Nevada Stock Up 1.2 %

Shares of Franco-Nevada stock opened at $130.79 on Tuesday. The stock’s fifty day moving average is $122.70 and its 200-day moving average is $124.07. The firm has a market capitalization of $25.17 billion, a PE ratio of -41.39, a price-to-earnings-growth ratio of 7.08 and a beta of 0.72. Franco-Nevada has a 12-month low of $103.64 and a 12-month high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results 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). The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. Analysts expect that Franco-Nevada will post 3.18 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.36 dividend. The ex-dividend date was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Institutional Trading of Franco-Nevada

Institutional investors and hedge funds have recently made changes to their positions in the stock. Laurel Wealth Advisors LLC acquired a new stake in shares of Franco-Nevada in the fourth quarter worth about $47,000. Sunbelt Securities Inc. lifted its position in shares of Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Franco-Nevada in the third quarter worth about $52,000. Erste Asset Management GmbH acquired a new stake in shares of Franco-Nevada in the third quarter worth about $55,000. Finally, Birch Capital Management LLC lifted its position in shares of Franco-Nevada by 37.9% in the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after buying an additional 298 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

About Franco-Nevada

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.