Franco-Nevada Corporation (NYSE:FNV) Receives $271.00 Consensus Price Target from Brokerages

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been given an average rating of “Moderate Buy” by the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $268.00.

FNV has been the subject of several analyst reports. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. UBS Group dropped their price target on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective on the stock in a report on Wednesday, May 20th. Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Finally, Scotiabank upped their price objective on shares of Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research note on Thursday, May 14th.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNV. GAMMA Investing LLC boosted its position in Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 64 shares during the period. Transamerica Financial Advisors LLC acquired a new position in shares of Franco-Nevada in the 4th quarter valued at about $25,000. Burkett Financial Services LLC acquired a new position in shares of Franco-Nevada in the 3rd quarter valued at about $28,000. Private Trust Co. NA purchased a new stake in shares of Franco-Nevada in the fourth quarter worth approximately $29,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Franco-Nevada in the first quarter worth approximately $39,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $208.88 on Thursday. The stock has a market capitalization of $40.28 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 1.82 and a beta of 0.36. Franco-Nevada has a 1-year low of $152.89 and a 1-year high of $285.67. The company has a 50 day moving average price of $225.72 and a 200 day moving average price of $237.13.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. The company had revenue of $650.70 million during 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 company’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. On average, sell-side analysts expect that Franco-Nevada will post 8.85 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s payout ratio is currently 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.