Franco-Nevada Co. (FNV) To Go Ex-Dividend on December 5th

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Thursday, December 5th will be paid a dividend of 0.36 per share by the basic materials company on Thursday, December 19th. This represents a $1.44 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, December 5th.

Franco-Nevada has increased its dividend payment by an average of 9.7% annually over the last three years. Franco-Nevada has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Franco-Nevada to earn $3.83 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 37.6%.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $126.37 on Friday. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $137.60. The company has a market capitalization of $24.32 billion, a price-to-earnings ratio of -41.57, a PEG ratio of 22.08 and a beta of 0.75. The company has a 50-day simple moving average of $126.65 and a 200 day simple moving average of $124.10.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company’s revenue was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Sell-side analysts forecast that Franco-Nevada will post 3.25 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FNV. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Jefferies Financial Group dropped their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Finally, Scotiabank boosted their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $154.57.

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.