Franco Nevada Corp (FNV) Receives $84.78 Consensus PT from Brokerages

Franco Nevada Corp (NYSE:FNV) (TSE:FNV) has been given a consensus recommendation of “Hold” by the fourteen ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $85.10.

Several brokerages have recently commented on FNV. Royal Bank of Canada reaffirmed a “buy” rating and set a $100.00 price objective on shares of Franco Nevada in a research note on Monday, October 23rd. TD Securities set a $96.00 price target on shares of Franco Nevada and gave the company a “buy” rating in a research report on Friday, December 1st. Credit Suisse Group cut shares of Franco Nevada from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $78.00 to $80.00 in a research report on Monday, September 25th. Scotiabank boosted their price target on shares of Franco Nevada from $82.50 to $85.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 7th. Finally, Desjardins reiterated a “sell” rating on shares of Franco Nevada in a research report on Monday, December 11th.

Shares of Franco Nevada (NYSE FNV) traded down $0.77 during trading hours on Monday, hitting $77.72. 532,200 shares of the stock traded hands, compared to its average volume of 563,186. The company has a market capitalization of $14,430.00, a P/E ratio of 95.95, a price-to-earnings-growth ratio of 17.24 and a beta of -0.14. Franco Nevada has a 52-week low of $60.10 and a 52-week high of $86.06.

Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. The firm had revenue of $171.50 million during the quarter, compared to the consensus estimate of $167.07 million. Franco Nevada had a net margin of 22.12% and a return on equity of 4.31%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. equities research analysts forecast that Franco Nevada will post 1.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Thursday, December 7th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, December 6th. Franco Nevada’s dividend payout ratio is currently 113.58%.

Several hedge funds and other institutional investors have recently made changes to their positions in FNV. FMR LLC grew its holdings in Franco Nevada by 7.5% in the second quarter. FMR LLC now owns 14,804,189 shares of the basic materials company’s stock worth $1,068,190,000 after purchasing an additional 1,028,578 shares during the period. Troy Asset Management Ltd purchased a new stake in Franco Nevada in the third quarter worth about $61,714,000. Franklin Resources Inc. grew its holdings in Franco Nevada by 30.0% in the second quarter. Franklin Resources Inc. now owns 2,800,453 shares of the basic materials company’s stock worth $202,127,000 after purchasing an additional 646,929 shares during the period. Fiera Capital Corp grew its holdings in Franco Nevada by 33.5% in the second quarter. Fiera Capital Corp now owns 1,104,916 shares of the basic materials company’s stock worth $79,584,000 after purchasing an additional 277,080 shares during the period. Finally, Marathon Asset Management LLP purchased a new stake in Franco Nevada in the third quarter worth about $20,774,000. Institutional investors own 61.42% of the company’s stock.

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About Franco Nevada

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.

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