Franco-Nevada Co. (NYSE:FNV) Receives $152.75 Consensus PT from Analysts

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) has received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $152.75.

Several research firms have recently commented on FNV. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Scotiabank lifted their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Bank of America increased their price target on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group upped their price objective on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research note on Friday, July 12th.

Franco-Nevada Stock Down 0.3 %

Shares of FNV opened at $124.56 on Friday. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $145.74. The firm has a market cap of $23.97 billion, a price-to-earnings ratio of -50.20, a PEG ratio of 20.59 and a beta of 0.76. The business’s 50 day moving average is $123.53 and its two-hundred day moving average is $121.13.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). The company had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. During the same period in the previous year, the business posted $0.95 EPS. The business’s revenue for the quarter was down 21.2% on a year-over-year basis. On average, equities analysts expect that Franco-Nevada will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a yield of 1.16%. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Scotia Capital Inc. boosted its holdings in shares of Franco-Nevada by 27.1% in the fourth quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock valued at $16,474,000 after acquiring an additional 31,796 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Franco-Nevada by 108.1% in the fourth quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock worth $50,671,000 after purchasing an additional 236,503 shares during the period. Alberta Investment Management Corp boosted its stake in Franco-Nevada by 2.3% during the 4th quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock valued at $49,825,000 after purchasing an additional 10,250 shares in the last quarter. Bornite Capital Management LP acquired a new position in shares of Franco-Nevada during the 4th quarter valued at $8,167,000. Finally, Trexquant Investment LP bought a new stake in shares of Franco-Nevada in the 4th quarter worth $2,104,000. Institutional investors own 77.06% of the company’s stock.

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.