Franco-Nevada Co. (NYSE:FNV) Receives $145.33 Average PT from Brokerages

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $145.33.

FNV has been the topic of several recent research reports. Jefferies Financial Group cut their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Scotiabank cut their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. HC Wainwright lowered their price target on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after purchasing an additional 424,810 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after purchasing an additional 537,047 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Franco-Nevada by 1.5% in the second quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock worth $386,597,000 after purchasing an additional 47,311 shares during the last quarter. M&G PLC boosted its stake in Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after buying an additional 51,996 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Franco-Nevada by 1.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,639,294 shares of the basic materials company’s stock valued at $194,381,000 after buying an additional 25,233 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 0.8 %

Shares of FNV stock opened at $125.81 on Thursday. The firm has a market capitalization of $24.22 billion, a price-to-earnings ratio of -39.81, a PEG ratio of 6.90 and a beta of 0.72. The stock has a fifty day moving average of $121.03 and a 200 day moving average of $123.87. Franco-Nevada has a 52 week low of $103.64 and a 52 week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter last year, the business earned $0.91 earnings per share. The business’s quarterly revenue was down 10.9% on a year-over-year basis. Equities research analysts anticipate that Franco-Nevada will post 3.2 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. Franco-Nevada’s payout ratio is presently -45.57%.

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.