Franco-Nevada Corporation (NYSE:FNV) to Issue $0.38 Quarterly Dividend

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Monday, November 3rd. Investors of record on Thursday, December 4th will be given a dividend of 0.38 per share by the basic materials company on Thursday, December 18th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, December 4th.

Franco-Nevada has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 2 years. Franco-Nevada has a dividend payout ratio of 30.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Franco-Nevada to earn $4.02 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 37.8%.

Franco-Nevada Stock Performance

Shares of FNV stock traded down $3.61 during trading hours on Tuesday, reaching $184.21. The company had a trading volume of 276,152 shares, compared to its average volume of 836,682. Franco-Nevada has a one year low of $112.70 and a one year high of $225.63. The business has a fifty day moving average price of $201.74 and a 200-day moving average price of $179.28. The firm has a market cap of $35.51 billion, a PE ratio of 45.39, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.06. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business had revenue of $487.70 million for the quarter, compared to the consensus estimate of $448.51 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was up 76.9% on a year-over-year basis. Equities research analysts forecast that Franco-Nevada will post 3.09 EPS for the current year.

Analyst Ratings Changes

FNV has been the subject of several research analyst reports. UBS Group increased their target price on shares of Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. TD Securities boosted their price objective on Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, August 12th. Zacks Research raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, CIBC reaffirmed an “outperform” rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $216.14.

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.