Franco-Nevada Co. (NYSE:FNV) Plans Quarterly Dividend of $0.36

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors of record on Thursday, December 5th will be paid a dividend of 0.36 per share by the basic materials company on Thursday, December 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, December 5th.

Franco-Nevada has increased its dividend payment by an average of 9.7% annually over the last three years. Franco-Nevada has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Franco-Nevada to earn $3.83 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 37.6%.

Franco-Nevada Price Performance

NYSE FNV traded down $5.81 during mid-day trading on Thursday, reaching $126.37. 1,226,784 shares of the stock were exchanged, compared to its average volume of 654,886. The stock has a 50 day simple moving average of $126.57 and a 200-day simple moving average of $124.09. Franco-Nevada has a one year low of $102.29 and a one year high of $137.60. The stock has a market cap of $24.32 billion, a P/E ratio of -43.48, a P/E/G ratio of 22.08 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business’s revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Sell-side analysts anticipate that Franco-Nevada will post 3.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on FNV. Jefferies Financial Group decreased their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. HC Wainwright reiterated a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research report on Friday, August 16th. Finally, TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $154.57.

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.