Franco-Nevada (NYSE:FNV) Reaches New 52-Week High on Better-Than-Expected Earnings

Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV's stock price hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $148.02 and last traded at $142.62, with a volume of 1677094 shares. The stock had previously closed at $143.28.

The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same quarter in the prior year, the business earned $0.90 EPS. Franco-Nevada's revenue was up 5.8% on a year-over-year basis.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio (DPR) is currently 53.15%.

Analyst Ratings Changes

A number of equities analysts have recently commented on FNV shares. StockNews.com upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Scotiabank upped their price objective on Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a research note on Tuesday. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. HC Wainwright raised their target price on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, TD Securities lowered Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price for the company. in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Franco-Nevada has an average rating of "Moderate Buy" and an average target price of $153.63.

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Institutional Investors Weigh In On Franco-Nevada

Institutional investors have recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in shares of Franco-Nevada during the 4th quarter valued at $47,000. Physician Wealth Advisors Inc. acquired a new position in Franco-Nevada during the 4th quarter worth $49,000. Point72 DIFC Ltd acquired a new stake in Franco-Nevada in the 3rd quarter valued at approximately $52,000. Harbour Investments Inc. grew its stake in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after acquiring an additional 93 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Franco-Nevada in the 3rd quarter valued at $55,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

The firm's 50-day simple moving average is $136.05 and its 200-day simple moving average is $127.90. The company has a market capitalization of $29.55 billion, a price-to-earnings ratio of -48.56, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

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.