Franco-Nevada (NYSE:FNV) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Franco-Nevada (NYSE:FNV) (TSE:FNV) announced its earnings results on Tuesday. The basic materials company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.16, Briefing.com reports. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.The company’s quarterly revenue was up 86.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share.

Franco-Nevada Stock Down 0.2%

NYSE FNV traded down $0.62 on Tuesday, hitting $262.40. 695,857 shares of the stock were exchanged, compared to its average volume of 884,776. The company has a market cap of $50.59 billion, a PE ratio of 55.01, a PEG ratio of 3.45 and a beta of 0.45. The company has a 50-day moving average price of $246.52 and a 200-day moving average price of $217.65. Franco-Nevada has a fifty-two week low of $140.03 and a fifty-two week high of $285.67.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a dividend of $0.44 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, March 12th. Franco-Nevada’s dividend payout ratio is presently 36.90%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Clark Capital Management Group Inc. boosted its holdings in Franco-Nevada by 1.0% in the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock valued at $1,048,000 after purchasing an additional 50 shares in the last quarter. Guardian Partners Inc. boosted its stake in shares of Franco-Nevada by 3.2% in the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock valued at $351,000 after buying an additional 52 shares in the last quarter. Private Advisor Group LLC grew its holdings in Franco-Nevada by 0.3% during the fourth quarter. Private Advisor Group LLC now owns 22,824 shares of the basic materials company’s stock worth $4,731,000 after acquiring an additional 60 shares during the period. Smartleaf Asset Management LLC grew its holdings in Franco-Nevada by 26.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 316 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 66 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in Franco-Nevada by 10.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 971 shares of the basic materials company’s stock worth $201,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $225.00 to $250.00 in a research note on Wednesday, December 10th. Zacks Research upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Finally, Weiss Ratings lowered shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $254.38.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.