Franco-Nevada Co. (NYSE:FNV) Receives Average Rating of "Moderate Buy" from Brokerages

Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV has been given an average recommendation of "Moderate Buy" by the ten research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $145.33.

Several research analysts have commented on FNV shares. Bank of America cut shares of Franco-Nevada from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Scotiabank cut their target price on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group decreased their price target on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a research note on Thursday, October 17th. Finally, HC Wainwright lowered their price target on Franco-Nevada from $200.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, December 20th.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded down $2.20 during midday trading on Thursday, reaching $124.87. The company had a trading volume of 592,795 shares, compared to its average volume of 640,630. Franco-Nevada has a one year low of $103.64 and a one year high of $137.60. The stock has a market capitalization of $24.04 billion, a P/E ratio of -39.52, a PEG ratio of 6.90 and a beta of 0.72. The stock's fifty day moving average price is $120.81 and its 200-day moving average price is $123.75.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same period last year, the firm posted $0.91 EPS. The business's revenue was down 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Franco-Nevada will post 3.2 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, December 5th. Franco-Nevada's dividend payout ratio is presently -45.57%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company's stock valued at $86,287,000 after acquiring an additional 706,919 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Franco-Nevada by 19.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company's stock worth $411,003,000 after purchasing an additional 537,047 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock valued at $433,538,000 after purchasing an additional 424,810 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Franco-Nevada by 60.1% during the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company's stock worth $119,069,000 after buying an additional 359,900 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Franco-Nevada by 4,361.2% during the second quarter. Clearbridge Investments LLC now owns 275,571 shares of the basic materials company's stock worth $32,659,000 after buying an additional 269,394 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.