Franco-Nevada Co. (NYSE:FNV) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $152.75.

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group boosted their target price on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Scotiabank upped their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Bank of America raised their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds have recently modified their holdings of the stock. Graham Capital Wealth Management LLC increased its holdings in Franco-Nevada by 0.4% in the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock worth $2,511,000 after buying an additional 86 shares during the last quarter. Meixler Investment Management Ltd. lifted its stake in shares of Franco-Nevada by 0.5% in the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after purchasing an additional 101 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Franco-Nevada by 0.5% in the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock worth $2,272,000 after purchasing an additional 101 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after buying an additional 110 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in Franco-Nevada by 6.9% during the first quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company’s stock valued at $205,000 after buying an additional 111 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

NYSE FNV opened at $124.56 on Friday. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $145.74. The company has a market capitalization of $23.97 billion, a P/E ratio of -50.20, a PEG ratio of 20.59 and a beta of 0.76. The company’s 50 day simple moving average is $123.53 and its 200 day simple moving average is $121.13.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The business had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. During the same quarter last year, the firm posted $0.95 EPS. The company’s quarterly revenue was down 21.2% compared to the same quarter last year. On average, analysts anticipate that Franco-Nevada will post 3.2 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.36 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.44 annualized dividend and a yield of 1.16%. Franco-Nevada’s dividend payout ratio is presently -57.83%.

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.