Franco-Nevada Corporation (NYSE:FNV) Given Average Recommendation of “Moderate Buy” by Analysts

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $257.25.

FNV has been the topic of several analyst reports. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Scotiabank lifted their price target on shares of Franco-Nevada from $283.00 to $286.00 and gave the company a “sector perform” rating in a report on Monday, March 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Weiss Ratings raised shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. Finally, UBS Group reaffirmed a “buy” rating and set a $310.00 price target on shares of Franco-Nevada in a report on Friday, January 30th.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $236.98 on Wednesday. Franco-Nevada has a 1-year low of $152.89 and a 1-year high of $285.67. The company has a market capitalization of $45.70 billion, a P/E ratio of 41.14, a P/E/G ratio of 2.30 and a beta of 0.34. The firm’s 50 day simple moving average is $247.89 and its two-hundred day simple moving average is $230.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The business had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was up 76.6% on a year-over-year basis. On average, sell-side analysts anticipate that Franco-Nevada will post 7.89 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is presently 30.56%.

Institutional Investors Weigh In On Franco-Nevada

Several institutional investors and hedge funds have recently modified their holdings of FNV. GAMMA Investing LLC raised 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 valued at $25,000 after buying an additional 64 shares during the last quarter. Transamerica Financial Advisors LLC bought a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $25,000. Burkett Financial Services LLC bought a new stake in shares of Franco-Nevada during the third quarter valued at approximately $28,000. Private Trust Co. NA bought a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $29,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after buying an additional 168 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

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.