Franco-Nevada Corporation (NYSE:FNV) Receives $172.13 Consensus PT from Brokerages

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $172.13.

A number of brokerages recently issued reports on FNV. Raymond James Financial set a $186.00 price objective on Franco-Nevada and gave the stock an “outperform” rating in a report on Wednesday, May 28th. Royal Bank Of Canada lifted their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Scotiabank raised their price objective on Franco-Nevada from $165.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, May 28th.

Franco-Nevada Stock Down 0.7%

Shares of NYSE:FNV opened at $158.51 on Thursday. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $179.99. The business’s 50 day moving average is $165.94 and its 200 day moving average is $152.31. The stock has a market cap of $30.54 billion, a price-to-earnings ratio of 49.53, a PEG ratio of 2.19 and a beta of 0.41.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The firm had revenue of $368.40 million for the quarter, compared to analysts’ expectations of $328.79 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 43.5% compared to the same quarter last year. As a group, equities research analysts expect that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, June 12th. Franco-Nevada’s payout ratio is presently 47.50%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Franco-Nevada in the fourth quarter worth $237,643,000. EdgePoint Investment Group Inc. boosted its stake in shares of Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock worth $582,100,000 after acquiring an additional 1,650,358 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company’s stock worth $268,280,000 after acquiring an additional 1,133,373 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Franco-Nevada by 246.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock worth $136,796,000 after acquiring an additional 828,166 shares during the period. Finally, Capital World Investors boosted its stake in shares of Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock worth $934,106,000 after acquiring an additional 711,591 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

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.