Franco-Nevada Corporation (NYSE:FNV) Receives $271.00 Consensus Target Price from Analysts

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $271.00.

A number of equities research analysts have issued reports on FNV shares. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and reduced their target price for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a report on Wednesday, May 20th. Finally, Scotiabank increased their target price on shares of Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a report on Thursday, May 14th.

Institutional Investors Weigh In On Franco-Nevada

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Franco-Nevada by 112.3% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 64 shares during the last quarter. Transamerica Financial Advisors LLC purchased a new stake in shares of Franco-Nevada in the 4th quarter valued at approximately $25,000. Burkett Financial Services LLC purchased a new stake in shares of Franco-Nevada in the 3rd quarter valued at approximately $28,000. Private Trust Co. NA purchased a new stake in shares of Franco-Nevada in the 4th quarter valued at approximately $29,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Franco-Nevada in the 1st quarter valued at approximately $39,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

NYSE:FNV opened at $218.43 on Friday. The stock has a market capitalization of $42.13 billion, a P/E ratio of 30.76, a PEG ratio of 1.91 and a beta of 0.34. The company has a 50 day moving average price of $239.79 and a 200 day moving average price of $235.26. Franco-Nevada has a fifty-two week low of $152.89 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. The company had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm’s quarterly revenue was up 76.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. Research analysts forecast that Franco-Nevada will post 8.85 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio is 24.79%.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.