Franco-Nevada Corporation (NYSE:FNV) Stock Has Consensus Price Target of $267.80 According to Brokerages

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $267.80.

A number of equities research analysts have recently weighed in on the company. Scotiabank dropped their target price on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Jefferies Financial Group decreased their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Bank of America decreased their price target on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada upped their target price on shares of Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th.

Franco-Nevada Trading Down 2.8%

Shares of FNV stock opened at $225.09 on Wednesday. Franco-Nevada has a 1 year low of $181.95 and a 1 year high of $285.67. The firm’s 50 day moving average is $251.69 and its 200-day moving average is $240.11. The firm has a market capitalization of $43.41 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 2.69 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. During the same period in the prior year, the business earned $1.24 EPS. The business’s revenue for the quarter was up 57.3% on a year-over-year basis. On average, equities research analysts forecast that Franco-Nevada will post 7.39 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

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

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EdgePoint Investment Group Inc. increased its stake in shares of Franco-Nevada by 3.3% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock worth $857,196,000 after purchasing an additional 110,222 shares during the last quarter. Deutsche Bank AG acquired a new stake in Franco-Nevada in the 2nd quarter valued at about $372,435,000. Canada Pension Plan Investment Board bought a new position in Franco-Nevada during the second quarter worth about $254,515,000. Amundi grew its holdings in Franco-Nevada by 4.4% during the first quarter. Amundi now owns 1,191,417 shares of the basic materials company’s stock worth $294,340,000 after purchasing an additional 50,455 shares during the period. Finally, Legal & General Group Plc acquired a new position in Franco-Nevada during the second quarter worth approximately $193,879,000. 77.06% of the stock is owned by institutional investors.

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.