Franco-Nevada Corporation (NYSE:FNV) Receives Average Rating of “Moderate Buy” from Brokerages

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $273.40.

A number of research firms recently issued reports on FNV. Royal Bank Of Canada lowered their target price on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. UBS Group cut their price target on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Weiss Ratings cut shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. Finally, Scotiabank dropped their price objective on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th.

Institutional Trading of Franco-Nevada

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after buying an additional 64 shares during the period. Transamerica Financial Advisors LLC acquired a new stake in Franco-Nevada in the 4th quarter valued at approximately $25,000. Private Trust Co. NA acquired a new stake in Franco-Nevada in the 4th quarter valued at approximately $29,000. Ascentis Independent Advisors bought a new stake in Franco-Nevada in the 1st quarter valued at approximately $39,000. Finally, Navalign LLC bought a new stake in Franco-Nevada in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.2%

FNV stock opened at $215.06 on Monday. Franco-Nevada has a 1-year low of $157.18 and a 1-year high of $285.67. The firm has a market cap of $41.48 billion, a PE ratio of 30.29, a P/E/G ratio of 1.81 and a beta of 0.36. The business’s 50-day moving average price is $216.08 and its two-hundred day moving average price is $236.66.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The company had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. During the same quarter last year, the firm posted $1.07 earnings per share. Franco-Nevada’s revenue was up 76.6% compared to the same quarter last year. On average, analysts forecast that Franco-Nevada will post 8.23 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio is presently 24.79%.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.