Analysts Set Franco-Nevada Corporation (NYSE:FNV) PT at $232.75

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have received an average rating of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $245.00.

A number of brokerages have weighed in on FNV. Raymond James Financial increased their price target on Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. HC Wainwright increased their target price on Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. UBS Group reissued a “buy” rating and issued a $310.00 price target on shares of Franco-Nevada in a research note on Friday. Jefferies Financial Group reaffirmed a “hold” rating and set a $228.00 price objective on shares of Franco-Nevada in a research note on Sunday, December 7th. Finally, Weiss Ratings lowered shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 26th.

Institutional Trading of Franco-Nevada

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in Franco-Nevada in the 1st quarter worth $241,000. NewEdge Advisors LLC increased its position in shares of 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 acquiring an additional 943 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Franco-Nevada by 118.3% in the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after acquiring an additional 5,032 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in 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 purchasing an additional 2,400 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new position in Franco-Nevada in the first quarter valued at about $249,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $234.25 on Monday. The firm has a market capitalization of $45.16 billion, a price-to-earnings ratio of 49.11, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47. Franco-Nevada has a fifty-two week low of $135.16 and a fifty-two week high of $273.55. The stock’s fifty day moving average is $221.90 and its two-hundred day moving average is $201.53.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The firm had revenue of $487.70 million for the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.Franco-Nevada’s revenue was up 76.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. As a group, sell-side analysts forecast that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, March 12th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio (DPR) 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.