Franco-Nevada Corporation (NYSE:FNV) Shares to Pay Quarterly Dividend of $0.44

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Wednesday, November 11th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $0.44 per share by the basic materials company on Thursday, December 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, December 3rd.

Franco-Nevada has decreased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 18 consecutive years. Franco-Nevada has a payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Franco-Nevada to earn $8.51 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 20.7%.

Franco-Nevada Stock Performance

FNV opened at $248.41 on Thursday. Franco-Nevada has a fifty-two week low of $188.47 and a fifty-two week high of $285.67. The firm has a 50-day moving average of $248.48 and a 200 day moving average of $240.07. The firm has a market cap of $47.92 billion, a P/E ratio of 32.47, a PEG ratio of 2.97 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, November 11th. The basic materials company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.77 by $0.12. The business had revenue of $549.30 million for the quarter, compared to analyst estimates of $568.44 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Equities research analysts predict that Franco-Nevada will post 7.40 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Zacks Research raised shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. HC Wainwright reaffirmed a “buy” rating and issued a $305.00 price target on shares of Franco-Nevada in a report on Thursday. Weiss Ratings raised shares of Franco-Nevada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Finally, Royal Bank Of Canada upped their price objective on Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and an average target price of $275.30.

About Franco-Nevada

Franco-Nevada is a Toronto-based company that provides financing to mining and energy businesses in exchange for royalties, streams and other interests in production. Rather than operating mines itself, it gives partners capital and receives a share of revenue or future output from their projects. The company’s portfolio is focused on gold and other precious metals, and also includes interests in other minerals and energy assets, including oil and gas. Its projects and counterparties span multiple regions, including North and South America, Africa, Australia and Europe.