Franco-Nevada (NYSE:FNV) Sets New 52-Week High - Time to Buy?

Key Points

• Franco-Nevada Corporation (NYSE:FNV) reached a new 52-week high trading at $222.96 and has a market capitalization of $42.97 billion.
• Analysts are optimistic, with seven analysts rating the stock as a Buy and price targets ranging from $194.57 to $250.00.
• The company recently announced a quarterly dividend of $0.38 per share, representing a 0.7% yield, with a payout ratio of 37.35%.

Franco-Nevada Corporation (NYSE:FNV - Get Free Report) TSE: FNV's stock price reached a new 52-week high on Wednesday . The company traded as high as $223.15 and last traded at $222.96, with a volume of 822991 shares trading hands. The stock had previously closed at $219.09.

Analysts Set New Price Targets

FNV has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. HC Wainwright raised their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Royal Bank Of Canada raised their price objective on shares of 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 restated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Finally, UBS Group lifted their price target on shares of Franco-Nevada from $210.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $194.57.

Franco-Nevada Price Performance

The business's 50 day moving average price is $186.64 and its 200 day moving average price is $171.26. The stock has a market capitalization of $42.97 billion, a P/E ratio of 54.78, a price-to-earnings-growth ratio of 2.87 and a beta of 0.41.

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

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, September 11th. Franco-Nevada's payout ratio is 37.35%.

Institutional Trading of Franco-Nevada

Several large investors have recently added to or reduced their stakes in FNV. Norges Bank bought a new position in shares of Franco-Nevada in the second quarter worth approximately $460,218,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock worth $268,280,000 after purchasing an additional 1,133,373 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Franco-Nevada by 35.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company's stock worth $528,289,000 after purchasing an additional 838,853 shares during the period. Picton Mahoney Asset Management bought a new position in shares of Franco-Nevada in the second quarter worth approximately $80,621,000. Finally, Scharf Investments LLC bought a new position in shares of Franco-Nevada in the second quarter worth approximately $78,509,000. 77.06% of the stock is currently 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.

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