Franco-Nevada (FNV) Set to Announce Quarterly Earnings on Wednesday

Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) is set to announce its earnings results after the market closes on Wednesday, March 15th. Analysts expect the company to announce earnings of $0.86 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Franco-Nevada Trading Down 4.1 %

Shares of FNV stock opened at $130.20 on Wednesday. The company’s 50-day moving average price is $138.94 and its 200-day moving average price is $132.30. The stock has a market cap of $24.98 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 9.88 and a beta of 0.69. Franco-Nevada has a twelve month low of $109.70 and a twelve month high of $169.32.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th will be given a dividend of $0.34 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, March 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.04%. Franco-Nevada’s payout ratio is presently 32.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. CIBC upped their price objective on shares of Franco-Nevada from C$230.00 to C$240.00 in a report on Tuesday, February 7th. Stifel Nicolaus downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Barclays lifted their target price on shares of Franco-Nevada from $111.00 to $115.00 and gave the company an “underweight” rating in a report on Monday, January 30th. Raymond James dropped their target price on shares of Franco-Nevada from $167.00 to $158.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Finally, National Bank Financial lifted their target price on shares of Franco-Nevada from C$190.00 to C$200.00 in a report on Friday, January 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $175.11.

Hedge Funds Weigh In On Franco-Nevada

Several institutional investors have recently modified their holdings of FNV. State of Wyoming purchased a new stake in shares of Franco-Nevada during the 4th quarter worth $38,000. Penserra Capital Management LLC purchased a new stake in shares of Franco-Nevada during the 1st quarter worth $47,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Franco-Nevada during the 4th quarter worth $65,000. Money Concepts Capital Corp lifted its position in shares of Franco-Nevada by 1,213.3% during the 4th quarter. Money Concepts Capital Corp now owns 1,090 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of Franco-Nevada during the 4th quarter worth $154,000. Institutional investors and hedge funds own 66.69% of the company’s stock.

About Franco-Nevada

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Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.