Franco-Nevada (NYSE:FNV) Issues Earnings Results

Franco-Nevada (NYSE:FNV) (TSE:FNV) released its quarterly earnings data on Monday. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06, Zacks reports. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $448.51 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was up 76.9% on a year-over-year basis.

Franco-Nevada Stock Up 0.8%

Shares of FNV opened at $188.03 on Tuesday. The company has a 50-day simple moving average of $201.74 and a 200-day simple moving average of $179.28. The company has a market capitalization of $36.25 billion, a PE ratio of 46.20, a P/E/G ratio of 1.70 and a beta of 0.42. Franco-Nevada has a 52-week low of $112.70 and a 52-week high of $225.63.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s dividend payout ratio (DPR) is currently 37.35%.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently modified their holdings of FNV. Smartleaf Asset Management LLC grew its holdings in shares of Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Franco-Nevada in the second quarter worth approximately $236,000. AQR Capital Management LLC acquired a new stake in shares of Franco-Nevada in the first quarter worth approximately $241,000. Benjamin Edwards Inc. acquired a new stake in shares of Franco-Nevada in the second quarter worth approximately $276,000. Finally, EP Wealth Advisors LLC boosted its position in shares of Franco-Nevada by 13.8% in the second quarter. EP Wealth Advisors LLC now owns 2,427 shares of the basic materials company’s stock worth $398,000 after acquiring an additional 294 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Raymond James Financial boosted their price target on shares of Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, HC Wainwright upped their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.14.

Franco-Nevada Company Profile

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.