Franco-Nevada Co. (NYSE:FNV) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat.com reports. Three investment 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 brokers that have updated their coverage on the stock in the last year is $145.33.

FNV has been the topic of several research reports. Scotiabank lowered their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. 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 price target on the stock. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th.

Franco-Nevada Stock Up 0.9 %

Shares of NYSE FNV opened at $116.21 on Friday. The company has a market capitalization of $22.37 billion, a PE ratio of -36.78 and a beta of 0.72. The stock’s 50 day moving average price is $124.60 and its 200-day moving average price is $123.27. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $279.11 million. During the same period in the prior year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. As a group, research analysts expect that Franco-Nevada will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.24%. Franco-Nevada’s dividend payout ratio (DPR) is -45.57%.

Hedge Funds Weigh In On Franco-Nevada

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in Franco-Nevada by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company’s stock worth $9,957,000 after purchasing an additional 6,052 shares in the last quarter. Tri Ri Asset Management Corp bought a new position in shares of Franco-Nevada in the third quarter worth $3,433,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Franco-Nevada in the third quarter worth $326,000. Toronto Dominion Bank boosted its stake in Franco-Nevada by 39.7% during the third quarter. Toronto Dominion Bank now owns 537,572 shares of the basic materials company’s stock valued at $66,793,000 after buying an additional 152,680 shares during the period. Finally, Geode Capital Management LLC grew its position in Franco-Nevada by 6.9% during the third quarter. Geode Capital Management LLC now owns 839,903 shares of the basic materials company’s stock worth $104,068,000 after buying an additional 54,329 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

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.