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

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $145.33.

FNV has been the topic of several research reports. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Scotiabank reduced their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright reduced their price objective on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Franco-Nevada Trading Down 0.5 %

Shares of FNV stock opened at $129.99 on Thursday. Franco-Nevada has a 12-month low of $103.64 and a 12-month high of $137.60. The stock’s 50-day moving average price is $121.68 and its 200-day moving average price is $123.96. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of -41.14, a price-to-earnings-growth ratio of 6.86 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (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 firm 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 for the quarter was down 10.9% compared to the same quarter last year. As a group, research analysts predict that Franco-Nevada will post 3.18 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.36 dividend. The ex-dividend date was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.11%. Franco-Nevada’s payout ratio is -45.57%.

Institutional Trading of Franco-Nevada

Large investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at approximately $47,000. Sunbelt Securities Inc. boosted its holdings in shares of Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 400 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada in the third quarter valued at approximately $52,000. Erste Asset Management GmbH purchased a new stake in Franco-Nevada during the third quarter worth $55,000. Finally, Birch Capital Management LLC lifted its holdings in Franco-Nevada by 37.9% during the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after buying an additional 298 shares during the period. 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.