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

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have been given an average rating of “Moderate Buy” by the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $145.33.

Several research firms have recently weighed in on FNV. UBS Group assumed coverage on Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 target price on the stock. HC Wainwright cut their price objective on shares of 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 lowered their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st.

Franco-Nevada Stock Up 0.8 %

Shares of NYSE:FNV opened at $125.81 on Thursday. The firm has a fifty day simple moving average of $121.03 and a two-hundred day simple moving average of $123.87. Franco-Nevada has a 52 week low of $103.64 and a 52 week high of $137.60. The stock has a market capitalization of $24.22 billion, a P/E ratio of -39.81, a PEG ratio of 6.90 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly 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 analysts’ expectations of $279.11 million. During the same quarter in the prior year, the business posted $0.91 EPS. The company’s revenue was down 10.9% on a year-over-year basis. On average, analysts expect that Franco-Nevada will post 3.2 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.36 dividend. The ex-dividend date was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Covea Finance raised its holdings in shares of Franco-Nevada by 2.7% in the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after purchasing an additional 2,700 shares in the last quarter. M&G PLC increased its holdings in Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after buying an additional 51,996 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Franco-Nevada by 3,404.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after buying an additional 706,919 shares in the last quarter. Telemark Asset Management LLC lifted its holdings in Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after buying an additional 20,000 shares during the period. Finally, Horizon Kinetics Asset Management LLC boosted its position in Franco-Nevada by 1.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after acquiring an additional 17,232 shares in the last quarter. 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.