Franco-Nevada Corporation (NYSE:FNV) Stock Has Consensus Price Target of $267.80

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $275.30.

FNV has been the topic of several recent research reports. Scotiabank lowered their target price on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings raised Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Bank of America cut their price target on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada boosted their price objective on Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds have recently modified their holdings of FNV. Deutsche Bank AG acquired a new position in shares of Franco-Nevada in the second quarter worth $372,435,000. Canada Pension Plan Investment Board acquired a new stake in shares of Franco-Nevada in the second quarter valued at $254,515,000. Legal & General Group Plc acquired a new stake in shares of Franco-Nevada in the second quarter valued at $193,879,000. The Manufacturers Life Insurance Company purchased a new position in Franco-Nevada in the second quarter valued at $153,344,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Franco-Nevada in the second quarter valued at $131,839,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 1.5%

Shares of NYSE FNV opened at $225.94 on Wednesday. The firm has a 50-day simple moving average of $250.07 and a 200-day simple moving average of $240.01. The stock has a market capitalization of $43.58 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 2.66 and a beta of 0.34. Franco-Nevada has a 52 week low of $181.95 and a 52 week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The business had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm’s revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 EPS. As a group, equities research analysts expect that Franco-Nevada will post 7.39 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 10th. Franco-Nevada’s payout ratio is currently 23.01%.

About Franco-Nevada

Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.

The company’s business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.