Franco-Nevada (NYSE:FNV) Hits New 52-Week High – Should You Buy?

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $139.68 and last traded at $137.67, with a volume of 684587 shares traded. The stock had previously closed at $137.10.

Analyst Ratings Changes

FNV has been the topic of several recent analyst reports. UBS Group began coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Scotiabank reduced their price target 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. 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 report on Thursday, October 17th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada Stock Up 0.4 %

The company has a market cap of $26.51 billion, a P/E ratio of -43.57, a P/E/G ratio of 6.12 and a beta of 0.74. The business has a fifty day simple moving average of $124.03 and a two-hundred day simple moving average of $124.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The business had revenue of $275.70 million during 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%. Franco-Nevada’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. On average, equities analysts predict that Franco-Nevada Co. will post 3.19 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.10%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Institutional Investors Weigh In On Franco-Nevada

Hedge funds and other institutional investors have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Franco-Nevada by 76.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after purchasing an additional 556,894 shares during the period. EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after acquiring an additional 537,047 shares during the period. Victory Capital Management Inc. increased its holdings in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after acquiring an additional 424,810 shares in the last quarter. Two Sigma Advisers LP raised its stake in Franco-Nevada by 60.1% during the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock worth $119,069,000 after acquiring an additional 359,900 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Franco-Nevada by 2.3% during the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after purchasing an additional 193,968 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other 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.