Analysts Set Franco-Nevada Co. (NYSE:FNV) Price Target at $145.33

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $145.33.

Several equities analysts have recently commented on FNV shares. UBS Group began coverage on shares of Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. HC Wainwright reduced their target price on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Scotiabank dropped their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mechanics Financial Corp boosted its stake in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares during the period. Kings Path Partners LLC purchased a new position in shares of Franco-Nevada during the second quarter valued at approximately $36,000. Sunbelt Securities Inc. grew its stake in shares of Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after buying an additional 400 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada in the third quarter worth approximately $52,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Franco-Nevada during the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $118.63 on Friday. Franco-Nevada has a fifty-two week low of $103.64 and a fifty-two week high of $137.60. The company has a market capitalization of $22.84 billion, a P/E ratio of -37.54 and a beta of 0.72. The company has a fifty day moving average of $123.80 and a 200 day moving average of $123.21.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same period last year, the company earned $0.91 EPS. The business’s revenue was down 10.9% on a year-over-year basis. Analysts forecast that Franco-Nevada will post 3.22 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.36 dividend. The ex-dividend date was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.21%. Franco-Nevada’s dividend payout ratio is presently -45.57%.

Franco-Nevada Company Profile

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.