Franco-Nevada Co. (NYSE:FNV) Given Average Rating of “Moderate Buy” by Brokerages

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $148.60.

Several brokerages have recently commented on FNV. Raymond James upped their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Scotiabank increased their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a report on Thursday, April 18th. Bank of America reduced their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Jefferies Financial Group increased their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday. Finally, TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $118.17 on Tuesday. The firm has a 50 day simple moving average of $114.30 and a 200-day simple moving average of $115.90. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $161.25. The stock has a market cap of $22.73 billion, a price-to-earnings ratio of -48.63, a price-to-earnings-growth ratio of 6.66 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The firm had revenue of $303.30 million for the quarter. Equities analysts expect that Franco-Nevada will post 2.76 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.22%. Franco-Nevada’s dividend payout ratio is currently -55.97%.

Institutional Investors Weigh In On Franco-Nevada

Hedge funds and other institutional investors have recently bought and sold shares of the stock. VisionPoint Advisory Group LLC acquired a new stake in Franco-Nevada during the 3rd quarter worth $30,000. Castleview Partners LLC acquired a new stake in Franco-Nevada during the 3rd quarter worth $33,000. Creative Financial Designs Inc. ADV acquired a new position in Franco-Nevada in the fourth quarter valued at $34,000. Allworth Financial LP increased its stake in Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 345 shares during the period. Finally, Fortis Group Advisors LLC increased its stake in Franco-Nevada by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.