Franco-Nevada Corporation (NYSE:FNV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $254.3750.

A number of equities research analysts recently commented on the company. TD Securities decreased their price objective on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Jefferies Financial Group restated a “hold” rating and set a $228.00 target price on shares of Franco-Nevada in a research report on Sunday, December 7th. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $225.00 to $250.00 in a research report on Wednesday, December 10th. UBS Group reissued a “buy” rating and set a $310.00 price objective on shares of Franco-Nevada in a research note on Friday, January 30th. Finally, Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th.

Franco-Nevada Stock Performance

FNV opened at $254.88 on Friday. The company has a fifty day moving average price of $233.15 and a two-hundred day moving average price of $209.26. The firm has a market capitalization of $49.14 billion, a PE ratio of 53.43, a P/E/G ratio of 1.26 and a beta of 0.47. Franco-Nevada has a 52 week low of $137.05 and a 52 week high of $273.55.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued 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 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s dividend payout ratio is presently 31.87%.

Institutional Investors Weigh In On Franco-Nevada

Several large investors have recently modified their holdings of FNV. Compound Planning Inc. lifted its holdings in shares of Franco-Nevada by 10.6% during the 4th quarter. Compound Planning Inc. now owns 2,138 shares of the basic materials company’s stock valued at $443,000 after purchasing an additional 205 shares in the last quarter. Invesco Ltd. raised its holdings in Franco-Nevada by 13.3% during the 4th quarter. Invesco Ltd. now owns 1,070,436 shares of the basic materials company’s stock worth $221,880,000 after buying an additional 125,816 shares during the period. Alberta Investment Management Corp lifted its stake in Franco-Nevada by 52.7% in the fourth quarter. Alberta Investment Management Corp now owns 13,900 shares of the basic materials company’s stock valued at $2,881,000 after buying an additional 4,800 shares in the last quarter. Strive Financial Group LLC acquired a new position in shares of Franco-Nevada in the fourth quarter valued at approximately $265,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Franco-Nevada by 67.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,713 shares of the basic materials company’s stock valued at $1,184,000 after buying an additional 2,310 shares during the period. 77.06% of the stock is currently owned by institutional investors.

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.