Franco-Nevada Co. (NYSE:FNV) Receives Consensus Rating of “Moderate Buy” from Brokerages

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $156.57.

FNV has been the subject of a number of recent research reports. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price objective for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group cut their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th.

Institutional Investors Weigh In On Franco-Nevada

Hedge funds have recently added to or reduced their stakes in the stock. Mechanics Financial Corp increased its position in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 150 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Franco-Nevada during the 2nd quarter valued at about $33,000. Kings Path Partners LLC bought a new position in shares of Franco-Nevada in the 2nd quarter worth approximately $36,000. Sunbelt Securities Inc. boosted its holdings in shares of Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after buying an additional 110 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $122.50 on Friday. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of -38.77, a PEG ratio of 22.08 and a beta of 0.75. The company has a 50-day moving average of $126.66 and a 200 day moving average of $124.13.

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

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

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.