Franco-Nevada Corporation (NYSE:FNV) Receives $271.00 Average PT from Analysts

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $271.00.

A number of brokerages have issued reports on FNV. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and decreased their target price for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. HC Wainwright reaffirmed a “buy” rating and set a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 20th.

Institutional Investors Weigh In On Franco-Nevada

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in shares of Franco-Nevada by 2.1% in the first quarter. Parallel Advisors LLC now owns 2,605 shares of the basic materials company’s stock valued at $644,000 after acquiring an additional 53 shares during the period. Groupama Asset Managment boosted its position in shares of Franco-Nevada by 26.9% in the first quarter. Groupama Asset Managment now owns 234,241 shares of the basic materials company’s stock valued at $57,869,000 after acquiring an additional 49,600 shares during the period. Groupe la Francaise boosted its position in shares of Franco-Nevada by 98.7% in the first quarter. Groupe la Francaise now owns 155,000 shares of the basic materials company’s stock valued at $38,253,000 after acquiring an additional 77,000 shares during the period. Western Wealth Management LLC bought a new stake in shares of Franco-Nevada in the first quarter valued at approximately $49,000. Finally, Janus Henderson Group PLC boosted its position in shares of Franco-Nevada by 65.0% in the first quarter. Janus Henderson Group PLC now owns 30,532 shares of the basic materials company’s stock valued at $7,552,000 after acquiring an additional 12,030 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

NYSE:FNV opened at $236.34 on Friday. The stock’s 50 day moving average price is $240.10 and its 200 day moving average price is $235.38. Franco-Nevada has a 52 week low of $152.89 and a 52 week high of $285.67. The company has a market capitalization of $45.58 billion, a P/E ratio of 33.29, a P/E/G ratio of 2.00 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. The firm had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The firm’s revenue was up 76.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. As a group, sell-side analysts forecast that Franco-Nevada will post 8.85 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s dividend payout ratio is presently 24.79%.

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.