Franco-Nevada Corporation (NYSE:FNV) Stock Has Average Target Price of $274.90 According to Brokerages

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $274.90.

A number of equities analysts recently commented on the stock. Jefferies Financial Group lowered their price target on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Bank of America decreased their target price on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Scotiabank lowered their target price on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada lifted their price target on shares of Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Finally, Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th.

Franco-Nevada Trading Up 0.8%

NYSE:FNV opened at $241.15 on Friday. The stock has a market cap of $46.51 billion, a P/E ratio of 31.52, a PEG ratio of 2.21 and a beta of 0.36. The stock has a 50 day simple moving average of $249.61 and a 200 day simple moving average of $235.68. Franco-Nevada has a 1-year low of $181.50 and a 1-year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The firm had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. As a group, sell-side analysts forecast that Franco-Nevada will post 7.54 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, September 10th. Franco-Nevada’s dividend payout ratio is presently 23.01%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP bought a new stake in shares of Franco-Nevada during the second quarter worth $2,907,000. BlackRock Inc. bought a new position in shares of Franco-Nevada in the 2nd quarter valued at $52,816,000. Nykredit A S acquired a new stake in shares of Franco-Nevada during the 2nd quarter valued at $626,000. Markel Group Inc. grew its position in Franco-Nevada by 9.2% during the 2nd quarter. Markel Group Inc. now owns 773,500 shares of the basic materials company’s stock worth $161,228,000 after acquiring an additional 65,000 shares during the last quarter. Finally, Crescent Grove Advisors LLC bought a new stake in Franco-Nevada during the 4th quarter worth $489,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and natural resource companies in exchange for the right to receive a portion of future production or revenue. This business model gives Franco-Nevada exposure to commodity production while generally limiting its direct responsibility for operating and capital costs.

The company holds a diversified portfolio of royalties, streams and other interests tied primarily to gold, as well as silver, platinum-group metals, iron ore and other minerals.