Franco-Nevada Corporation (NYSE:FNV) Receives $273.40 Consensus PT from Brokerages

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $273.40.

FNV has been the topic of a number of analyst reports. Bank of America dropped their target price on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group dropped their price objective on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Scotiabank reduced their target price on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Franco-Nevada in a report on Friday, September 4th.

Institutional Trading of Franco-Nevada

Institutional investors and hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its position in shares of Franco-Nevada by 16.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,557 shares of the basic materials company’s stock worth $1,367,000 after acquiring an additional 904 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Franco-Nevada during the 2nd quarter valued at approximately $229,000. Engineers Gate Manager LP acquired a new stake in shares of Franco-Nevada during the 2nd quarter valued at approximately $2,907,000. Cidel Asset Management Inc. lifted its stake in Franco-Nevada by 3,028.1% during the second quarter. Cidel Asset Management Inc. now owns 78,265 shares of the basic materials company’s stock worth $16,325,000 after purchasing an additional 75,763 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in Franco-Nevada by 1.2% during the second quarter. Integrated Wealth Concepts LLC now owns 20,659 shares of the basic materials company’s stock worth $4,306,000 after purchasing an additional 242 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 2.0%

FNV opened at $266.00 on Tuesday. The company has a fifty day simple moving average of $234.33 and a 200 day simple moving average of $237.10. The firm has a market cap of $51.30 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 2.46 and a beta of 0.39. Franco-Nevada has a twelve month low of $181.50 and a twelve month 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 return on equity of 18.58% and a net margin of 63.79%.The business’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 EPS. On average, analysts forecast that Franco-Nevada will post 7.54 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is presently 23.01%.

About Franco-Nevada

Franco-Nevada Corporation (NYSE: FNV) is a Canada-based royalty and streaming company focused primarily on precious metals. Rather than operating mines, the company provides upfront capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from designated assets.

Its portfolio is anchored by gold royalties and streams, with additional exposure to silver, platinum group metals and other mined commodities. Franco-Nevada also holds interests in certain energy assets, including oil and natural gas royalties.