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

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $254.3750.

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. HC Wainwright lifted their target price on shares of Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Scotiabank upped their target price on shares of Franco-Nevada from $225.00 to $283.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Royal Bank Of Canada raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $225.00 to $250.00 in a research report on Wednesday, December 10th. Finally, Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new stake in shares of Franco-Nevada during the 1st quarter worth about $241,000. NewEdge Advisors LLC grew its stake in Franco-Nevada by 16.7% during the first quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock worth $1,038,000 after buying an additional 943 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Franco-Nevada by 118.3% during the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after buying an additional 5,032 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Franco-Nevada by 800.0% in the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in shares of Franco-Nevada by 8.0% in the 2nd quarter. Yousif Capital Management LLC now owns 2,560 shares of the basic materials company’s stock worth $420,000 after acquiring an additional 190 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Up 0.3%

Shares of FNV opened at $254.88 on Friday. The stock’s 50-day moving average price is $233.15 and its 200 day moving average price is $209.26. The firm has a market capitalization of $49.14 billion, a price-to-earnings ratio of 53.43, a P/E/G ratio of 1.26 and a beta of 0.47. Franco-Nevada has a 12-month low of $137.05 and a 12-month high of $273.55.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.76 annualized dividend and a yield of 0.7%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s payout ratio 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.