Franco-Nevada (NYSE:FNV) Sets New 12-Month High - Still a Buy?

Key Points

• Franco-Nevada's stock hit a new 52-week high of $207.73, showing an increase from its previous close of $202.50 with a total trading volume of 117,706 shares.
• The company reported earnings per share of $1.24 for the last quarter, exceeding the consensus estimate of $1.10, despite revenue falling short of analyst expectations.
• Franco-Nevada announced a quarterly dividend of $0.38 per share to be paid on September 25th, with a dividend yield of 0.7% and a payout ratio of 37.35%.

Franco-Nevada Corporation (NYSE:FNV - Get Free Report) TSE: FNV reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $206.64 and last traded at $207.73, with a volume of 117706 shares. The stock had previously closed at $202.50.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank Of Canada boosted their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. CIBC reissued an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Raymond James Financial set a $218.00 price target on Franco-Nevada and gave the company an "outperform" rating in a report on Tuesday. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, TD Securities raised their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Franco-Nevada presently has an average rating of "Moderate Buy" and an average target price of $187.63.

Franco-Nevada Stock Performance

The firm has a market cap of $41.26 billion, a P/E ratio of 52.55, a P/E/G ratio of 2.81 and a beta of 0.41. The firm has a 50 day simple moving average of $179.47 and a 200 day simple moving average of $168.56.

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

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada's dividend payout ratio is presently 37.35%.

Institutional Investors Weigh In On Franco-Nevada

Several institutional investors have recently modified their holdings of FNV. Bessemer Group Inc. increased its holdings in Franco-Nevada by 1,583.3% during the 1st quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company's stock worth $2,067,000 after purchasing an additional 12,350 shares during the period. St. James Investment Company LLC increased its stake in shares of Franco-Nevada by 29.3% in the 1st quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company's stock valued at $34,661,000 after purchasing an additional 49,907 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Franco-Nevada by 36.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company's stock worth $9,200,000 after purchasing an additional 15,483 shares during the last quarter. D.A. Davidson & CO. acquired a new position in shares of Franco-Nevada during the 1st quarter worth approximately $265,000. Finally, FORA Capital LLC lifted its holdings in Franco-Nevada by 169.8% in the first quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company's stock valued at $842,000 after acquiring an additional 3,362 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

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.