Franco-Nevada Corporation (NYSE:FNV) Receives $178.88 Average Price Target from Brokerages

Key Points

• Franco-Nevada Corporation (NYSE:FNV) holds a consensus rating of "Moderate Buy" from analysts, with seven buy and seven hold ratings among the fourteen firms covering the stock.
• The company's latest quarterly earnings reported $1.24 EPS, exceeding analysts' estimates of $1.10, alongside a year-over-year revenue increase of 42.0%.
• Franco-Nevada announced a quarterly dividend of $0.38, reflecting a 0.8% dividend yield with an upcoming payout date of September 25th.

Franco-Nevada Corporation (NYSE:FNV - Get Free Report) TSE: FNV has received an average rating of "Moderate Buy" from the fourteen ratings firms that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $178.8750.

FNV has been the subject of several research analyst reports. Zacks Research lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. TD Securities increased their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Scotiabank upped their price target on Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 12th. UBS Group raised their price objective on Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, HC Wainwright lifted their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th.

Franco-Nevada Price Performance

FNV traded up $4.21 on Friday, reaching $188.67. The company's stock had a trading volume of 507,316 shares, compared to its average volume of 673,419. The stock has a market cap of $36.36 billion, a price-to-earnings ratio of 46.36, a price-to-earnings-growth ratio of 2.51 and a beta of 0.36. Franco-Nevada has a 1 year low of $112.70 and a 1 year high of $189.00. The business's 50 day moving average is $167.86 and its 200 day moving average is $161.95.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company's revenue was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. As a group, research analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada's payout ratio is currently 37.35%.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in FNV. Dimensional Fund Advisors LP boosted its holdings in Franco-Nevada by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 244,478 shares of the basic materials company's stock worth $28,746,000 after purchasing an additional 38,585 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Franco-Nevada by 538.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock worth $71,000 after purchasing an additional 512 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Franco-Nevada in the 4th quarter worth approximately $1,777,000. Northern Trust Corp lifted its holdings in shares of Franco-Nevada by 68.1% in the 4th quarter. Northern Trust Corp now owns 153,095 shares of the basic materials company's stock worth $18,002,000 after purchasing an additional 61,998 shares during the last quarter. Finally, Lido Advisors LLC bought a new stake in shares of Franco-Nevada in the 4th quarter worth approximately $284,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Company Profile

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.