Franco Nevada Corp (FNV) Receives Average Rating of “Hold” from Brokerages

Shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) have been given an average rating of “Hold” by the thirteen brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $90.71.

Several research analysts recently weighed in on the company. Desjardins upgraded Franco Nevada from a “sell” rating to a “hold” rating in a research report on Saturday, October 6th. Deutsche Bank set a $74.00 price target on Franco Nevada and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Macquarie cut Franco Nevada from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 10th. ValuEngine cut Franco Nevada from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, TD Securities set a $93.00 price target on Franco Nevada and gave the company a “buy” rating in a research report on Tuesday, August 7th.

Shares of Franco Nevada stock traded down $0.34 on Thursday, reaching $64.99. 4,816 shares of the stock were exchanged, compared to its average volume of 619,940. The company has a market capitalization of $11.65 billion, a price-to-earnings ratio of 60.14, a price-to-earnings-growth ratio of 13.09 and a beta of -0.18. Franco Nevada has a twelve month low of $58.26 and a twelve month high of $86.06.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, August 8th. The basic materials company reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $161.30 million during the quarter, compared to analysts’ expectations of $169.46 million. Franco Nevada had a return on equity of 4.80% and a net margin of 32.94%. Franco Nevada’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. On average, analysts expect that Franco Nevada will post 1.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Investors of record on Thursday, September 13th were 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 was Wednesday, September 12th. Franco Nevada’s dividend payout ratio is currently 88.89%.

Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in shares of Franco Nevada by 128.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,600 shares of the basic materials company’s stock valued at $109,000 after buying an additional 900 shares in the last quarter. Tuttle Tactical Management purchased a new stake in shares of Franco Nevada in the second quarter valued at approximately $111,000. Cerebellum GP LLC increased its position in shares of Franco Nevada by 2,358.0% in the second quarter. Cerebellum GP LLC now owns 2,458 shares of the basic materials company’s stock valued at $179,000 after buying an additional 2,358 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Franco Nevada in the first quarter valued at approximately $201,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Franco Nevada in the second quarter valued at approximately $218,000. Institutional investors and hedge funds own 63.46% 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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