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

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $273.40.

Several research firms have commented on FNV. Jefferies Financial Group lowered their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Zacks Research downgraded Franco-Nevada from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. TD Securities raised 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. Royal Bank Of Canada lowered their price objective on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th.

Franco-Nevada Stock Up 0.0%

Shares of FNV opened at $200.81 on Monday. The company’s fifty day moving average is $218.63 and its 200-day moving average is $236.61. Franco-Nevada has a 12 month low of $154.11 and a 12 month high of $285.67. The firm has a market cap of $38.73 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.69 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The business had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same quarter in the previous year, the business earned $1.07 EPS. Franco-Nevada’s quarterly revenue was up 76.6% compared to the same quarter last year. As a group, research analysts predict that Franco-Nevada will post 8.23 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, June 11th. Franco-Nevada’s dividend payout ratio (DPR) is 24.79%.

Institutional Trading of Franco-Nevada

A number of institutional investors and hedge funds have recently modified their holdings of FNV. Addenda Capital Inc. grew its holdings in Franco-Nevada by 88.1% in the 4th quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company’s stock valued at $42,211,000 after buying an additional 95,405 shares during the last quarter. Crescent Grove Advisors LLC bought a new position in Franco-Nevada in the 4th quarter worth approximately $489,000. Scharf Investments LLC lifted its holdings in shares of Franco-Nevada by 15.8% during the fourth quarter. Scharf Investments LLC now owns 692,209 shares of the basic materials company’s stock worth $143,484,000 after buying an additional 94,465 shares during the last quarter. PKO Investment Management Joint Stock Co lifted its holdings in shares of Franco-Nevada by 11.4% during the fourth quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock worth $14,519,000 after buying an additional 7,150 shares during the last quarter. Finally, Annex Advisory Services LLC boosted its position in shares of Franco-Nevada by 4.9% in the fourth quarter. Annex Advisory Services LLC now owns 199,972 shares of the basic materials company’s stock valued at $41,450,000 after acquiring an additional 9,336 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.