Brokerages Set Franco-Nevada Co. (NYSE:FNV) Price Target at $154.57

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $154.57.

A number of equities research analysts recently issued reports on the stock. Scotiabank increased their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Jefferies Financial Group decreased their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. HC Wainwright reissued a “buy” rating and set a $185.00 price objective on shares of Franco-Nevada in a report on Friday, August 16th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $132.17 on Friday. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $137.60. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of -43.48, a P/E/G ratio of 22.03 and a beta of 0.75. The firm has a fifty day moving average of $126.57 and a 200-day moving average of $124.09.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The company’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 EPS. On average, sell-side analysts predict that Franco-Nevada will post 3.25 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada’s payout ratio is -47.37%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mechanics Financial Corp boosted its stake in Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 150 shares during the last quarter. Mather Group LLC. acquired a new stake in Franco-Nevada during the 2nd quarter worth approximately $33,000. Kings Path Partners LLC acquired a new stake in Franco-Nevada during the 2nd quarter worth approximately $36,000. Sunbelt Securities Inc. raised its holdings in Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares during the period. Finally, Hillsdale Investment Management Inc. raised its holdings in Franco-Nevada by 33.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after buying an additional 110 shares during the period. Institutional investors own 77.06% of the company’s stock.

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.