Brokerages Set Franco-Nevada Corporation (NYSE:FNV) PT at $169.63

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has earned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $169.63.

Several research analysts have recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, May 28th. National Bankshares reaffirmed a “sector perform” rating on shares of Franco-Nevada in a report on Wednesday, April 23rd. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, April 7th. Royal Bank Of Canada upped their price objective on Franco-Nevada from $160.00 to $190.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. Finally, TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, March 11th.

Institutional Trading of Franco-Nevada

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FNV. Allspring Global Investments Holdings LLC increased its position in shares of Franco-Nevada by 9,594.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 96,948 shares of the basic materials company’s stock worth $11,400,000 after buying an additional 95,948 shares during the period. Principal Securities Inc. grew its holdings in Franco-Nevada by 290.5% during the 4th quarter. Principal Securities Inc. now owns 863 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 642 shares during the period. Allworth Financial LP grew its holdings in Franco-Nevada by 643.3% during the 4th quarter. Allworth Financial LP now owns 3,895 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 3,371 shares during the period. Meixler Investment Management Ltd. grew its holdings in Franco-Nevada by 12.1% during the 4th quarter. Meixler Investment Management Ltd. now owns 24,760 shares of the basic materials company’s stock worth $2,912,000 after acquiring an additional 2,674 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Franco-Nevada by 11.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,136,533 shares of the basic materials company’s stock worth $133,548,000 after acquiring an additional 116,144 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Down 1.3%

Shares of NYSE FNV opened at $165.98 on Friday. The stock has a 50-day moving average price of $168.08 and a two-hundred day moving average price of $147.55. The company has a market cap of $31.98 billion, a price-to-earnings ratio of 51.87, a PEG ratio of 2.34 and a beta of 0.42. Franco-Nevada has a 12 month low of $112.70 and a 12 month high of $179.99.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The business had revenue of $368.40 million during the quarter, compared to analysts’ expectations of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The firm’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. On average, sell-side analysts predict that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada’s dividend payout ratio is presently 47.50%.

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.