Brokerages Set Franco-Nevada Co. (NYSE:FNV) Target Price at $145.33

Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV has received a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $145.33.

A number of research firms have recently weighed in on FNV. Scotiabank reduced their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Bank of America downgraded Franco-Nevada from a "buy" rating to a "neutral" rating and cut their price target for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, Jefferies Financial Group lowered their price objective on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a research note on Thursday, October 17th.

Franco-Nevada Trading Up 0.9 %

Shares of FNV traded up $1.05 on Friday, reaching $116.21. 1,172,822 shares of the company's stock traded hands, compared to its average volume of 663,678. The stock's 50 day simple moving average is $124.60 and its two-hundred day simple moving average is $123.30. Franco-Nevada has a 52-week low of $103.64 and a 52-week high of $137.60. The stock has a market cap of $22.37 billion, a PE ratio of -36.78 and a beta of 0.72.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company's revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Analysts forecast that Franco-Nevada will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, December 5th. Franco-Nevada's dividend payout ratio is presently -45.57%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. M&G PLC raised its position in shares of Franco-Nevada by 3.2% in the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company's stock worth $208,645,000 after buying an additional 51,996 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of 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 in the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of Franco-Nevada by 1.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company's stock valued at $116,277,000 after acquiring an additional 17,232 shares in the last quarter. Telemark Asset Management LLC boosted its position in shares of Franco-Nevada by 66.7% during the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company's stock valued at $6,212,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of 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 worth $433,538,000 after purchasing an additional 424,810 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

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.