Franco-Nevada (NYSE:FNV) Hits New 12-Month High - Here's Why

Key Points

• Franco-Nevada Corporation's stock reached a new 12-month high, trading as high as $192.04, and recently closing at $190.06.
• Analyst ratings for the stock are mixed, with Zacks downgrading it to a "hold," while others like Wall Street Zen upgraded it to a "buy," reflecting a consensus of 14 ratings split between buy and hold.
• The company reported $1.24 EPS in its last earnings, surpassing estimates and marking a 42% yearly revenue increase, though it faced a slight revenue miss compared to expectations.

Franco-Nevada Corporation (NYSE:FNV - Get Free Report) TSE: FNV's stock price reached a new 52-week high on Thursday . The company traded as high as $192.04 and last traded at $190.06, with a volume of 780944 shares trading hands. The stock had previously closed at $190.40.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Zacks Research downgraded shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Sunday, August 24th. Raymond James Financial lifted their price target on Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Scotiabank lifted their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $178.88.

Franco-Nevada Stock Performance

The business's fifty day moving average price is $169.33 and its two-hundred day moving average price is $162.81. The stock has a market capitalization of $36.63 billion, a P/E ratio of 46.70, a P/E/G ratio of 2.51 and a beta of 0.41.

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

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada's dividend payout ratio (DPR) is presently 37.35%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently bought and sold shares of the company. CX Institutional purchased a new stake in Franco-Nevada in the first quarter worth about $30,000. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada during the first quarter valued at about $32,000. MTM Investment Management LLC bought a new stake in Franco-Nevada during the second quarter valued at about $32,000. Smartleaf Asset Management LLC boosted its position in Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Franco-Nevada by 78.3% during the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 90 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

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.

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