Royal Bank of Canada Reiterates Buy Rating for Franco Nevada (FNV)

Royal Bank of Canada reissued their buy rating on shares of Franco Nevada (NYSE:FNV) (TSE:FNV) in a research report report published on Wednesday morning.

A number of other equities research analysts have also recently commented on FNV. Macquarie cut shares of Franco Nevada from an outperform rating to a neutral rating in a research report on Tuesday, July 10th. Desjardins upgraded shares of Franco Nevada from a sell rating to a hold rating in a research report on Wednesday, July 18th. TD Securities reduced their target price on shares of Franco Nevada from $82.00 to $79.00 and set a buy rating for the company in a research report on Wednesday. ValuEngine cut shares of Franco Nevada from a hold rating to a sell rating in a research report on Tuesday, September 4th. Finally, Zacks Investment Research cut shares of Franco Nevada from a hold rating to a strong sell rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Franco Nevada currently has a consensus rating of Hold and an average target price of $80.71.

Shares of NYSE FNV traded down $0.50 during mid-day trading on Wednesday, reaching $64.89. The company’s stock had a trading volume of 768,275 shares, compared to its average volume of 781,415. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 60.08, a price-to-earnings-growth ratio of 14.14 and a beta of -0.13. Franco Nevada has a 1-year low of $58.26 and a 1-year high of $86.06.

Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, November 5th. The basic materials company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. The business had revenue of $170.60 million during the quarter, compared to analysts’ expectations of $158.85 million. Franco Nevada had a net margin of 31.81% and a return on equity of 4.76%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. Equities research analysts expect that Franco Nevada will post 1.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, December 5th. Franco Nevada’s payout ratio is currently 88.89%.

A number of institutional investors have recently added to or reduced their stakes in FNV. Wells Fargo & Company MN increased its position in Franco Nevada by 6.8% during the first quarter. Wells Fargo & Company MN now owns 14,654 shares of the basic materials company’s stock worth $1,002,000 after purchasing an additional 939 shares during the last quarter. BlackRock Inc. increased its position in shares of Franco Nevada by 1.1% during the first quarter. BlackRock Inc. now owns 117,074 shares of the basic materials company’s stock valued at $8,007,000 after acquiring an additional 1,282 shares during the last quarter. Addenda Capital Inc. acquired a new stake in shares of Franco Nevada during the second quarter valued at about $29,528,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Franco Nevada during the second quarter valued at about $359,000. Finally, Bank of Montreal Can acquired a new stake in shares of Franco Nevada during the second quarter valued at about $494,119,000. Hedge funds and other institutional investors own 63.42% of the company’s stock.

Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.

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Analyst Recommendations for Franco Nevada (NYSE:FNV)

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