Franco-Nevada (NYSE:FNV) Earns Outperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of Franco-Nevada (NYSE:FNV) (TSE:FNV) in a research note published on Wednesday, Marketbeat.com reports. The firm issued an outperform rating on the basic materials company’s stock.

Several other analysts also recently weighed in on FNV. UBS Group lifted their price objective on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 11th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, April 7th. Royal Bank of Canada increased their price objective on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. HC Wainwright lifted their target price on Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Finally, Raymond James increased their price target on Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.25.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $171.14 on Wednesday. Franco-Nevada has a 1-year low of $112.70 and a 1-year high of $174.44. The company’s fifty day moving average is $150.39 and its two-hundred day moving average is $134.23. The stock has a market capitalization of $32.95 billion, a price-to-earnings ratio of -54.16, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $304.33 million. During the same period in the prior year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio is currently 53.15%.

Hedge Funds Weigh In On Franco-Nevada

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC increased its position in Franco-Nevada by 29.4% in the 3rd quarter. Barclays PLC now owns 35,828 shares of the basic materials company’s stock worth $4,450,000 after purchasing an additional 8,147 shares during the last quarter. Geode Capital Management LLC raised its position in Franco-Nevada by 6.9% during the third quarter. Geode Capital Management LLC now owns 839,903 shares of the basic materials company’s stock valued at $104,068,000 after acquiring an additional 54,329 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Franco-Nevada in the third quarter worth approximately $326,000. Tri Ri Asset Management Corp acquired a new position in shares of Franco-Nevada during the 3rd quarter worth $3,433,000. Finally, Franklin Resources Inc. raised its holdings in shares of Franco-Nevada by 8.3% during the 3rd quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company’s stock valued at $9,957,000 after purchasing an additional 6,052 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other 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.