Franco-Nevada Corporation (NYSE:FNV) Given Consensus Rating of “Moderate Buy” by Brokerages

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $273.40.

FNV has been the topic of a number of recent analyst reports. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective on the stock in a research note on Wednesday, May 20th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and lowered their target price for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Jefferies Financial Group cut their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a report on Monday, July 6th. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th.

Institutional Trading of Franco-Nevada

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new position in Franco-Nevada in the first quarter valued at approximately $241,000. NewEdge Advisors LLC raised its position in shares of Franco-Nevada by 16.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after acquiring an additional 943 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Franco-Nevada by 118.3% in the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock valued at $1,460,000 after purchasing an additional 5,032 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Franco-Nevada by 800.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 2,400 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Franco-Nevada in the 2nd quarter worth $1,477,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.4%

NYSE:FNV opened at $215.06 on Monday. Franco-Nevada has a 1 year low of $157.18 and a 1 year high of $285.67. The firm has a 50 day moving average of $216.08 and a 200-day moving average of $236.49. The stock has a market capitalization of $41.48 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 1.81 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.09 by $0.29. The business had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.Franco-Nevada’s revenue was up 76.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. As a group, analysts forecast that Franco-Nevada will post 8.23 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given 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 was Thursday, June 11th. Franco-Nevada’s dividend payout ratio is presently 24.79%.

Franco-Nevada Company Profile

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.