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

Key Points

• Franco-Nevada's share price reached a new 52-week high at $198.91, with a trading volume of over 1 million shares.
• Recent analyst ratings show a mixed sentiment, with Zacks Research downgrading the stock to a "hold" while BMO Capital Markets maintained an "outperform" rating.
• The company reported a 42% year-over-year increase in revenue, achieving $1.24 earnings per share, exceeding analyst expectations by $0.14.

Franco-Nevada Corporation (NYSE:FNV - Get Free Report) TSE: FNV's share price hit a new 52-week high on Thursday . The company traded as high as $198.91 and last traded at $198.81, with a volume of 1118164 shares. The stock had previously closed at $196.15.

Wall Street Analyst Weigh In

FNV has been the subject of a number of research reports. Zacks Research cut shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Royal Bank Of Canada upped their price target on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. TD Securities upped their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Finally, Raymond James Financial upped their price target on shares of Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $178.88.

Franco-Nevada Stock Performance

The firm has a market cap of $38.31 billion, a price-to-earnings ratio of 48.85, a price-to-earnings-growth ratio of 2.62 and a beta of 0.41. The business's 50 day moving average price is $172.51 and its 200-day moving average price is $164.72.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. The business had revenue of $369.40 million for the quarter, compared to analyst estimates 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 for the quarter was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. On average, analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

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

Institutional Investors Weigh In On Franco-Nevada

A number of institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its stake in shares of Franco-Nevada by 10.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 64 shares in the last quarter. Beacon Financial Group raised its stake in Franco-Nevada by 1.0% during the second quarter. Beacon Financial Group now owns 7,169 shares of the basic materials company's stock worth $1,175,000 after acquiring an additional 72 shares during the period. Kiker Wealth Management LLC raised its stake in Franco-Nevada by 20.5% during the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company's stock worth $77,000 after acquiring an additional 80 shares during the period. Confluence Investment Management LLC raised its stake in Franco-Nevada by 1.5% during the first quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after acquiring an additional 84 shares during the period. Finally, Golden State Wealth Management LLC raised its stake 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 worth $34,000 after acquiring an additional 90 shares during the period. 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.

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