Franco-Nevada Corporation (NYSE:FNV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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

A number of equities research analysts have recently commented on the stock. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. 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. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and issued a $305.00 price objective on shares of Franco-Nevada in a research note on Wednesday, May 13th. Finally, TD raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price objective for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th.

Institutional Investors Weigh In On Franco-Nevada

A number of institutional investors have recently modified their holdings of FNV. GAMMA Investing LLC raised its holdings in Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after buying an additional 64 shares during the last quarter. Transamerica Financial Advisors LLC acquired a new position in Franco-Nevada during the fourth quarter worth $25,000. Burkett Financial Services LLC acquired a new position in Franco-Nevada during the third quarter worth $28,000. Private Trust Co. NA acquired a new position in Franco-Nevada during the fourth quarter worth $29,000. Finally, Smartleaf Asset Management LLC raised its holdings in 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 during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $209.95 on Thursday. Franco-Nevada has a 52-week low of $152.89 and a 52-week high of $285.67. The firm has a 50 day moving average price of $230.58 and a two-hundred day moving average price of $236.97. The stock has a market cap of $40.49 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 1.86 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted 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. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. During the same period in the prior year, the firm posted $1.07 EPS. The company’s quarterly revenue was up 76.6% on a year-over-year basis. Analysts predict that Franco-Nevada will post 8.85 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 11th. Franco-Nevada’s dividend payout ratio is currently 24.79%.

About Franco-Nevada

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.