Franco-Nevada Co. (NYSE:FNV) Receives $145.33 Consensus Target Price from Brokerages

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $145.33.

A number of analysts have weighed in on the stock. UBS Group started coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. HC Wainwright lowered their price objective on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Jefferies Financial Group reduced their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th.

Franco-Nevada Stock Down 0.3 %

Shares of FNV opened at $118.63 on Friday. The stock has a market cap of $22.84 billion, a P/E ratio of -37.54 and a beta of 0.72. The business’s 50 day moving average price is $123.80 and its 200-day moving average price is $123.21. Franco-Nevada has a 52 week low of $103.64 and a 52 week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same period last year, the firm posted $0.91 earnings per share. The company’s revenue was down 10.9% compared to the same quarter last year. On average, equities analysts anticipate that Franco-Nevada will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s payout ratio is currently -45.57%.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors and hedge funds have recently made changes to their positions in FNV. Mechanics Financial Corp boosted its stake in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 150 shares during the last quarter. Kings Path Partners LLC purchased a new position in Franco-Nevada during the second quarter valued at $36,000. Sunbelt Securities Inc. increased its position in Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Franco-Nevada in the third quarter worth about $52,000. Finally, Erste Asset Management GmbH purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

About Franco-Nevada

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.