Franco-Nevada (NYSE:FNV) Announces Earnings Results

Franco-Nevada (NYSE:FNV) (TSE:FNV) issued its quarterly earnings results on Monday. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06, Zacks reports. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.

Franco-Nevada Trading Up 0.8%

Shares of NYSE:FNV traded up $1.40 during trading on Monday, reaching $188.03. The company’s stock had a trading volume of 950,147 shares, compared to its average volume of 839,413. Franco-Nevada has a 12 month low of $112.70 and a 12 month high of $225.63. The firm’s 50 day simple moving average is $201.63 and its two-hundred day simple moving average is $179.16. The stock has a market capitalization of $36.25 billion, a PE ratio of 46.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is presently 37.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in shares of Franco-Nevada by 0.9% in the 2nd quarter. Tidal Investments LLC now owns 253,011 shares of the basic materials company’s stock valued at $41,474,000 after acquiring an additional 2,351 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Franco-Nevada in the 2nd quarter valued at about $20,654,000. Man Group plc lifted its holdings in shares of Franco-Nevada by 328.9% in the 2nd quarter. Man Group plc now owns 114,696 shares of the basic materials company’s stock valued at $18,796,000 after acquiring an additional 87,951 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Franco-Nevada by 177.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 99,224 shares of the basic materials company’s stock valued at $16,278,000 after acquiring an additional 63,455 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Franco-Nevada by 7.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 63,821 shares of the basic materials company’s stock valued at $10,461,000 after acquiring an additional 4,151 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings upgraded Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Raymond James Financial increased their price target on Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. HC Wainwright increased their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Finally, UBS Group increased their price objective on shares of Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and an average price target of $216.14.

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.