Franco-Nevada Co. (NYSE:FNV) Receives Average Recommendation of “Hold” from Analysts

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have been given an average rating of “Hold” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $147.30.

Several equities analysts have commented on FNV shares. TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Scotiabank cut their target price on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 7th. Raymond James upped their price target on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Bank of America cut their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Finally, Jefferies Financial Group initiated coverage on shares of Franco-Nevada in a research report on Thursday, February 29th. They set a “hold” rating and a $117.00 price objective for the company.

Franco-Nevada Trading Down 1.4 %

Shares of FNV opened at $116.44 on Tuesday. The firm has a fifty day simple moving average of $113.15 and a 200 day simple moving average of $116.28. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $161.25. The stock has a market capitalization of $22.38 billion, a price-to-earnings ratio of -47.92, a PEG ratio of 6.49 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The business had revenue of $303.30 million for the quarter. As a group, research analysts predict that Franco-Nevada will post 2.75 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.24%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is currently -55.97%.

Institutional Investors Weigh In On Franco-Nevada

Several large investors have recently made changes to their positions in FNV. VisionPoint Advisory Group LLC purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at $30,000. Castleview Partners LLC bought a new position in Franco-Nevada during the third quarter valued at approximately $33,000. Creative Financial Designs Inc. ADV purchased a new stake in Franco-Nevada during the fourth quarter valued at about $34,000. State of Wyoming purchased a new position in Franco-Nevada in the 4th quarter worth approximately $38,000. Finally, Allworth Financial LP boosted its position in Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

About Franco-Nevada

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.