Franco-Nevada (NYSE:FNV) Trading 3.2% Higher

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV)’s stock price traded up 3.2% on Tuesday . The stock traded as high as $121.40 and last traded at $121.24. 29,249 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 688,470 shares. The stock had previously closed at $117.47.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Raymond James increased their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Jefferies Financial Group upped their price objective on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Scotiabank upped their price objective on Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. HC Wainwright upped their price objective on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Bank of America upped their price objective on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $149.30.

Franco-Nevada Stock Performance

The business has a 50-day moving average price of $121.89 and a 200-day moving average price of $115.57.

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

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, June 13th. Franco-Nevada’s dividend payout ratio is currently -57.83%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in Franco-Nevada by 5.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,008,095 shares of the basic materials company’s stock valued at $1,219,807,000 after purchasing an additional 566,539 shares during the last quarter. FIL Ltd raised its stake in Franco-Nevada by 7.8% in the 4th quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock valued at $1,005,852,000 after purchasing an additional 659,324 shares during the last quarter. Van ECK Associates Corp raised its stake in Franco-Nevada by 9.9% in the 4th quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock valued at $972,707,000 after purchasing an additional 789,070 shares during the last quarter. Vanguard Group Inc. raised its stake in Franco-Nevada by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock valued at $878,696,000 after purchasing an additional 129,876 shares during the last quarter. Finally, Capital World Investors raised its stake in Franco-Nevada by 2.7% in the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock valued at $547,807,000 after purchasing an additional 120,367 shares during the last quarter. 77.06% of the stock is 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.