Franco-Nevada Corporation (NYSE:FNV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $232.75.

A number of equities research analysts have recently issued reports on the stock. HC Wainwright upped their target price on shares of Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. TD Securities lowered their price objective on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. UBS Group increased their target price on Franco-Nevada from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Raymond James Financial boosted their price target on Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Finally, Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $225.00 to $250.00 in a research report on Wednesday, December 10th.

Institutional Investors Weigh In On Franco-Nevada

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC acquired a new position in Franco-Nevada in the first quarter valued at approximately $241,000. NewEdge Advisors LLC lifted its holdings in shares of Franco-Nevada by 16.7% in the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock worth $1,038,000 after purchasing an additional 943 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Franco-Nevada by 118.3% in the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after purchasing an additional 5,032 shares during the last quarter. Acadian Asset Management LLC boosted its position in Franco-Nevada by 800.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 2,400 shares during the period. Finally, Voya Investment Management LLC bought a new position in Franco-Nevada during the 1st quarter worth $249,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.8%

Shares of FNV opened at $256.18 on Monday. The firm has a market cap of $49.39 billion, a price-to-earnings ratio of 53.71, a PEG ratio of 1.44 and a beta of 0.48. The business’s 50 day moving average is $215.55 and its two-hundred day moving average is $198.04. Franco-Nevada has a 52-week low of $127.20 and a 52-week high of $261.70.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The business had revenue of $487.70 million during the quarter, compared to analyst estimates of $448.51 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The business’s revenue was up 76.9% compared to the same quarter last year. On average, equities analysts expect that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, December 4th. Franco-Nevada’s dividend payout ratio (DPR) is presently 31.87%.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.