Brokerages Set Franco-Nevada Co. (NYSE:FNV) Target Price at $148.86

Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV has earned a consensus recommendation of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $148.86.

Several analysts have recently commented on the company. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Bank of America cut shares of Franco-Nevada from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. TD Cowen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th. Finally, HC Wainwright upped their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, November 8th.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $122.55 on Wednesday. Franco-Nevada has a one year low of $102.29 and a one year high of $137.60. The firm has a fifty day moving average of $126.01 and a two-hundred day moving average of $123.81.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million for the quarter, compared to analyst estimates 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 was down 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. On average, equities research analysts forecast that Franco-Nevada will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, December 5th. Franco-Nevada's payout ratio is currently -45.57%.

Institutional Trading of Franco-Nevada

Large investors have recently modified their holdings of the business. Mechanics Financial Corp lifted its stake in Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock valued at $30,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Franco-Nevada in the second quarter valued at $33,000. Kings Path Partners LLC acquired a new stake in shares of Franco-Nevada during the second quarter valued at $36,000. Sunbelt Securities Inc. increased its position in Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock worth $49,000 after purchasing an additional 400 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Franco-Nevada in the 3rd quarter valued at about $52,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

About Franco-Nevada

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.