Franco Nevada (NYSE:FNV) Coverage Initiated by Analysts at Royal Bank of Canada

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Royal Bank of Canada began coverage on shares of Franco Nevada (NYSE:FNV) (TSE:FNV) in a research report sent to investors on Wednesday, TipRanks reports. The firm issued a hold rating and a $106.00 price target on the basic materials company’s stock.

Several other research analysts have also commented on FNV. TD Securities lifted their price target on Franco Nevada from $115.00 to $120.00 and gave the stock a buy rating in a research report on Wednesday, November 13th. CIBC restated a buy rating and set a $143.00 target price on shares of Franco Nevada in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of Franco Nevada from $110.00 to $117.00 and gave the company a neutral rating in a report on Wednesday, August 14th. Raymond James set a $108.00 target price on shares of Franco Nevada and gave the company an outperform rating in a report on Wednesday, November 13th. Finally, Deutsche Bank upped their price target on shares of Franco Nevada from $81.00 to $88.00 and gave the company a hold rating in a research report on Wednesday, August 14th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $107.09.

FNV traded up $1.47 on Wednesday, reaching $98.94. The company had a trading volume of 16,790 shares, compared to its average volume of 559,475. Franco Nevada has a 1 year low of $67.97 and a 1 year high of $101.20. The stock has a market capitalization of $18.38 billion, a PE ratio of 84.64, a P/E/G ratio of 14.41 and a beta of -0.02. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $96.33 and a 200-day moving average price of $90.06.

Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, November 11th. The basic materials company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.09. The business had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $223.73 million. Franco Nevada had a return on equity of 5.78% and a net margin of 27.17%. The business’s revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. As a group, analysts expect that Franco Nevada will post 1.71 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. Franco Nevada’s dividend payout ratio (DPR) is currently 85.47%.

Several large investors have recently added to or reduced their stakes in the company. B & T Capital Management DBA Alpha Capital Management purchased a new position in Franco Nevada during the 3rd quarter worth $32,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in Franco Nevada during the second quarter worth about $51,000. Flagship Harbor Advisors LLC raised its holdings in Franco Nevada by 316.0% during the third quarter. Flagship Harbor Advisors LLC now owns 703 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 534 shares in the last quarter. Parallel Advisors LLC lifted its position in Franco Nevada by 125.5% in the third quarter. Parallel Advisors LLC now owns 868 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 483 shares during the period. Finally, Riverhead Capital Management LLC lifted its position in Franco Nevada by 24.2% in the second quarter. Riverhead Capital Management LLC now owns 1,025 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 200 shares during the period. 63.51% 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 stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.

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Analyst Recommendations for Franco Nevada (NYSE:FNV)

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