Franco-Nevada (NYSE:FNV) Earns Buy Rating from Analysts at UBS Group

UBS Group assumed coverage on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $160.00 price objective on the basic materials company’s stock.

A number of other brokerages have also weighed in on FNV. Jefferies Financial Group lowered their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. HC Wainwright raised their price objective on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $157.00.

Franco-Nevada Stock Performance

FNV stock opened at $118.45 on Monday. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60. The firm has a market cap of $22.80 billion, a P/E ratio of -37.48, a price-to-earnings-growth ratio of 19.22 and a beta of 0.75. The stock has a 50-day simple moving average of $126.17 and a 200-day simple moving average of $123.94.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted 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). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same quarter last year, the business posted $0.91 EPS. Franco-Nevada’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, equities research analysts predict that Franco-Nevada will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend 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

Several hedge funds have recently made changes to their positions in the stock. Graham Capital Wealth Management LLC lifted its holdings in shares of Franco-Nevada by 0.4% in the 2nd quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock worth $2,511,000 after purchasing an additional 86 shares during the last quarter. Meixler Investment Management Ltd. lifted its holdings in shares of Franco-Nevada by 0.5% in the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after purchasing an additional 101 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Franco-Nevada by 0.5% in the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock worth $2,272,000 after purchasing an additional 101 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Franco-Nevada by 7.4% in the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 102 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Franco-Nevada by 33.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 110 shares during the last quarter. Institutional investors 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.