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

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $273.40.

Several research analysts have commented on FNV shares. Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Scotiabank lowered their target price on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Bank of America dropped their target price on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price target for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th.

Franco-Nevada Stock Down 1.7%

FNV opened at $261.53 on Tuesday. Franco-Nevada has a 52-week low of $181.50 and a 52-week high of $285.67. The company has a 50 day moving average of $235.31 and a two-hundred day moving average of $236.78. The company has a market cap of $50.44 billion, a P/E ratio of 34.19, a P/E/G ratio of 2.46 and a beta of 0.39.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $616.66 million. During the same period in the prior year, the business posted $1.24 EPS. The business’s revenue was up 57.3% on a year-over-year basis. Research analysts anticipate that Franco-Nevada will post 7.54 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is currently 23.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FNV. Van ECK Associates Corp increased its stake in shares of Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after purchasing an additional 842,132 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Franco-Nevada by 26.5% during the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock worth $1,062,037,000 after buying an additional 1,074,257 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Franco-Nevada by 3.3% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock worth $857,196,000 after buying an additional 110,222 shares in the last quarter. Norges Bank bought a new position in Franco-Nevada in the 4th quarter worth approximately $578,577,000. Finally, Geode Capital Management LLC grew its holdings in Franco-Nevada by 11.4% in the 4th quarter. Geode Capital Management LLC now owns 1,932,148 shares of the basic materials company’s stock worth $412,395,000 after buying an additional 197,567 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

Franco-Nevada Corporation (NYSE: FNV) is a Canada-based royalty and streaming company focused primarily on precious metals. Rather than operating mines, the company provides upfront capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from designated assets.

Its portfolio is anchored by gold royalties and streams, with additional exposure to silver, platinum group metals and other mined commodities. Franco-Nevada also holds interests in certain energy assets, including oil and natural gas royalties.