Franco-Nevada Co. (NYSE:FNV) Given Average Recommendation of “Moderate Buy” by Brokerages

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) has earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $145.33.

Several analysts have recently commented on FNV shares. HC Wainwright lowered their price objective on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Scotiabank dropped 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Laurel Wealth Advisors LLC bought a new stake in Franco-Nevada during the 4th quarter valued at $47,000. Sunbelt Securities Inc. increased its stake in shares of Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after buying an additional 400 shares during the period. Point72 DIFC Ltd purchased a new stake in Franco-Nevada in the third quarter worth $52,000. Erste Asset Management GmbH bought a new stake in Franco-Nevada in the third quarter valued at $55,000. Finally, Birch Capital Management LLC increased its position in Franco-Nevada by 37.9% during the 4th quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 298 shares during the period. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

NYSE FNV opened at $127.11 on Thursday. The stock has a market capitalization of $24.47 billion, a P/E ratio of -40.22 and a beta of 0.72. The business has a 50 day simple moving average of $120.94 and a 200 day simple moving average of $123.72. Franco-Nevada has a one year low of $103.64 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was down 10.9% compared to the same quarter last year. Equities analysts expect that Franco-Nevada will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s payout ratio is presently -45.57%.

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.