Franco-Nevada Corporation (NYSE:FNV) Stock Has Consensus Target Price of $274.90 According to Brokerages

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $274.90.

Several research firms have weighed in on FNV. Scotiabank dropped their price target on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. UBS Group decreased their price target on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Jefferies Financial Group cut their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Finally, Royal Bank Of Canada raised their target price on shares of Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th.

Franco-Nevada Stock Down 2.5%

Franco-Nevada stock opened at $237.89 on Friday. The firm has a market capitalization of $45.88 billion, a PE ratio of 31.10, a P/E/G ratio of 2.25 and a beta of 0.36. Franco-Nevada has a 52 week low of $181.50 and a 52 week high of $285.67. The firm’s 50-day simple moving average is $250.75 and its 200 day simple moving average is $235.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $616.66 million. During the same quarter last year, the business posted $1.24 earnings per share. The business’s revenue was up 57.3% compared to the same quarter last year. On average, research analysts expect that Franco-Nevada will post 7.54 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were issued a $0.44 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is presently 23.01%.

Hedge Funds Weigh In On Franco-Nevada

A number of large investors have recently modified their holdings of the company. Silicon Valley Capital Partners acquired a new position in Franco-Nevada during the second quarter valued at approximately $31,000. Transamerica Financial Advisors LLC acquired a new position in shares of Franco-Nevada during the 2nd quarter valued at $33,000. Global Retirement Partners LLC purchased a new stake in Franco-Nevada during the 2nd quarter worth $35,000. Dunhill Financial LLC purchased a new stake in Franco-Nevada during the 2nd quarter worth $36,000. Finally, Ascentis Independent Advisors purchased a new position in Franco-Nevada in the first quarter valued at about $39,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

About Franco-Nevada

Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and natural resource companies in exchange for the right to receive a portion of future production or revenue. This business model gives Franco-Nevada exposure to commodity production while generally limiting its direct responsibility for operating and capital costs.

The company holds a diversified portfolio of royalties, streams and other interests tied primarily to gold, as well as silver, platinum-group metals, iron ore and other minerals.