Analysts Set Franco-Nevada Co. (NYSE:FNV) PT at $148.86

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $152.83.

FNV has been the topic of a number of research reports. HC Wainwright increased their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in shares of Franco-Nevada by 8.3% in the third quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company’s stock valued at $9,957,000 after acquiring an additional 6,052 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in Franco-Nevada in the third quarter worth approximately $3,433,000. Wilmington Savings Fund Society FSB bought a new position in Franco-Nevada during the 3rd quarter valued at $326,000. Toronto Dominion Bank increased its position in shares of Franco-Nevada by 39.7% during the 3rd quarter. Toronto Dominion Bank now owns 537,572 shares of the basic materials company’s stock valued at $66,793,000 after purchasing an additional 152,680 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Franco-Nevada by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 839,903 shares of the basic materials company’s stock worth $104,068,000 after buying an additional 54,329 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Down 0.3 %

Shares of Franco-Nevada stock opened at $122.62 on Wednesday. The business has a 50-day moving average price of $125.77 and a 200 day moving average price of $123.71. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $137.60. The firm has a market cap of $23.60 billion, a P/E ratio of -38.80, a P/E/G ratio of 20.72 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter last year, the firm posted $0.91 earnings per share. Franco-Nevada’s revenue was down 10.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Franco-Nevada will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

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.