Franco-Nevada Corporation (FNV) To Go Ex-Dividend on June 11th

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Tuesday, May 12th. Shareholders of record on Thursday, June 11th will be paid a dividend of 0.44 per share by the basic materials company on Thursday, June 25th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 11th.

Franco-Nevada has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Franco-Nevada has a dividend payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Franco-Nevada to earn $8.99 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 19.6%.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $214.70 on Tuesday. The stock has a market capitalization of $41.41 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 1.91 and a beta of 0.34. Franco-Nevada has a one year low of $152.89 and a one year high of $285.67. The business’s 50 day simple moving average is $239.53 and its two-hundred day simple moving average is $235.68.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. The firm had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same period last year, the company earned $1.07 EPS. Sell-side analysts expect that Franco-Nevada will post 8.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FNV has been the topic of several research reports. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a research report on Wednesday, May 20th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price target for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Scotiabank lifted their price target on Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price target for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Finally, National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average target price of $271.00.

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.