Franco-Nevada Corporation (NYSE:FNV) Receives $273.40 Average Target Price from Analysts

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have earned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $273.40.

Several equities analysts have commented on FNV shares. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Scotiabank decreased 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. Weiss Ratings cut Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and decreased their target price for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group lowered their target price on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research note on Monday, July 6th.

Institutional Trading of Franco-Nevada

Hedge funds have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC bought a new position in shares of Franco-Nevada during the 4th quarter valued at approximately $25,000. Private Trust Co. NA bought a new stake in shares of Franco-Nevada in the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC raised its holdings in shares of Franco-Nevada by 600.0% in the 2nd 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 during the period. Navalign LLC purchased a new position in Franco-Nevada in the fourth quarter valued at approximately $34,000. Finally, Global Retirement Partners LLC purchased a new position in Franco-Nevada in the second quarter valued at approximately $35,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

FNV opened at $234.50 on Friday. Franco-Nevada has a 1 year low of $173.39 and a 1 year high of $285.67. The company has a market capitalization of $45.23 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 2.14 and a beta of 0.35. The firm’s fifty day moving average price is $215.69 and its two-hundred day moving average price is $235.14.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $580.90 million for the quarter, compared to the consensus estimate of $616.66 million. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. As a group, equities analysts anticipate that Franco-Nevada will post 7.6 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is 23.01%.

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.