Brokerages Set Franco-Nevada Corporation (NYSE:FNV) Target Price at $210.29

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have received an average recommendation of “Hold” from the fourteen brokerages that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $210.2857.

FNV has been the subject of several analyst reports. Weiss Ratings downgraded Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. CIBC restated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Raymond James Financial raised their target price on Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. TD Securities raised their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Finally, Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th.

Franco-Nevada Trading Up 0.7%

Shares of NYSE:FNV opened at $205.20 on Friday. The firm has a market capitalization of $39.54 billion, a PE ratio of 50.42, a PEG ratio of 1.91 and a beta of 0.42. Franco-Nevada has a 1-year low of $112.70 and a 1-year high of $225.63. The business’s 50 day moving average is $199.80 and its 200-day moving average is $176.99.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada’s revenue was up 42.0% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. On average, sell-side analysts predict that Franco-Nevada will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

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

Hedge Funds Weigh In On Franco-Nevada

Institutional investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. bought a new position in Franco-Nevada in the 1st quarter valued at $32,000. MTM Investment Management LLC bought a new position in Franco-Nevada in the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC raised its position in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. Golden State Wealth Management LLC raised its position in Franco-Nevada by 78.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 90 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its position in Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 188 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

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.