Franco-Nevada Corporation (NYSE:FNV) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $267.80.

A number of equities research analysts have weighed in on the company. Weiss Ratings upgraded Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Bank of America lowered their price objective on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Scotiabank cut their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada lifted their price objective on Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Finally, Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th.

Franco-Nevada Stock Performance

NYSE:FNV opened at $225.09 on Wednesday. The firm’s 50-day moving average is $251.69 and its 200-day moving average is $240.11. Franco-Nevada has a 52-week low of $181.95 and a 52-week high of $285.67. The company has a market cap of $43.41 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 2.61 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). The business had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%. The business’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 EPS. Equities analysts predict that Franco-Nevada will post 7.39 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, September 10th. Franco-Nevada’s payout ratio is 23.01%.

Institutional Investors Weigh In On Franco-Nevada

Large investors have recently modified their holdings of the company. New Harbor Financial Group LLC raised its holdings in Franco-Nevada by 2.4% during the third quarter. New Harbor Financial Group LLC now owns 1,871 shares of the basic materials company’s stock worth $446,000 after purchasing an additional 44 shares during the last quarter. PFG Investments LLC grew its position in Franco-Nevada by 0.7% in the first quarter. PFG Investments LLC now owns 7,211 shares of the basic materials company’s stock valued at $1,782,000 after acquiring an additional 52 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Franco-Nevada by 2.1% in the first quarter. Parallel Advisors LLC now owns 2,605 shares of the basic materials company’s stock valued at $644,000 after purchasing an additional 53 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in Franco-Nevada by 22.4% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 295 shares of the basic materials company’s stock valued at $70,000 after buying an additional 54 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Franco-Nevada by 10.8% in the third quarter. SBI Securities Co. Ltd. now owns 594 shares of the basic materials company’s stock worth $141,000 after buying an additional 58 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.

The company’s business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.