Franco-Nevada Co. (NYSE:FNV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $149.30.

Several equities analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group raised their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Raymond James raised their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. HC Wainwright raised their target price on shares of Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FNV. Norges Bank purchased a new position in shares of Franco-Nevada during the fourth quarter worth $221,351,000. M&G Plc purchased a new position in Franco-Nevada in the first quarter valued at $219,971,000. Capital World Investors increased its holdings in Franco-Nevada by 45.8% in the fourth quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock valued at $495,909,000 after buying an additional 1,405,731 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in Franco-Nevada by 68.1% in the first quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock valued at $328,972,000 after buying an additional 1,117,523 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Franco-Nevada by 39.5% in the fourth quarter. First Eagle Investment Management LLC now owns 3,150,097 shares of the basic materials company’s stock valued at $348,940,000 after buying an additional 891,164 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $118.52 on Friday. The firm has a market cap of $22.80 billion, a PE ratio of -47.60, a price-to-earnings-growth ratio of 22.60 and a beta of 0.77. The firm’s 50 day simple moving average is $121.83 and its 200-day simple moving average is $115.38. Franco-Nevada has a one year low of $102.29 and a one year high of $149.06.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. Equities research analysts predict that Franco-Nevada will post 3.2 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. Franco-Nevada’s payout ratio is currently -57.83%.

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.