Franco-Nevada (NYSE:FNV) Upgraded at StockNews.com

StockNews.com upgraded shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) from a hold rating to a buy rating in a report issued on Friday.

A number of other brokerages also recently issued reports on FNV. Scotiabank reduced their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada lifted their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright restated a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a report on Tuesday, January 28th. Finally, UBS Group began coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.71.

Franco-Nevada Price Performance

Shares of FNV opened at $143.36 on Friday. Franco-Nevada has a 1 year low of $111.98 and a 1 year high of $146.70. The company has a 50 day simple moving average of $133.80 and a two-hundred day simple moving average of $127.30. The firm has a market cap of $27.60 billion, a P/E ratio of -45.37, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio is presently -48.10%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FNV. Essex Financial Services Inc. lifted its holdings in shares of Franco-Nevada by 2.2% in the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 84 shares during the last quarter. Harbour Investments Inc. raised its position in Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares during the period. Mutual Advisors LLC lifted its stake in Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after purchasing an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC boosted its position in shares of Franco-Nevada by 2.7% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after buying an additional 100 shares during the period. Finally, Huntington National Bank boosted its position in shares of Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after buying an additional 102 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.