Franco-Nevada (NYSE:FNV) Reaches New 12-Month High – Here’s Why

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $206.64 and last traded at $207.73, with a volume of 117706 shares traded. The stock had previously closed at $202.50.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets restated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. CIBC restated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Scotiabank increased their price objective on Franco-Nevada from $182.00 to $184.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 12th. Raymond James Financial increased their price objective on Franco-Nevada from $186.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Finally, TD Securities increased their price objective on Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.88.

Franco-Nevada Trading Up 5.6%

The stock has a market capitalization of $41.20 billion, a price-to-earnings ratio of 52.52, a PEG ratio of 2.81 and a beta of 0.41. The stock has a 50-day moving average price of $178.36 and a 200 day moving average price of $167.89.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $369.40 million for the quarter, compared to analysts’ expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada’s revenue was up 42.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. Equities research analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s payout ratio is presently 37.35%.

Institutional Trading of Franco-Nevada

A number of large investors have recently modified their holdings of FNV. CX Institutional purchased a new position in Franco-Nevada in the first quarter valued at $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Franco-Nevada during the first quarter worth about $32,000. MTM Investment Management LLC purchased a new position in Franco-Nevada during the second quarter worth about $32,000. Smartleaf Asset Management LLC raised its holdings in Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in Franco-Nevada by 78.3% in the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after buying an additional 90 shares in the last quarter. Hedge funds and other 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.