Franco Nevada’s (FNV) Buy Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their buy rating on shares of Franco Nevada (NYSE:FNV) (TSE:FNV) in a research note issued to investors on Wednesday morning. The brokerage currently has a $118.00 price objective on the basic materials company’s stock.

Several other research firms also recently commented on FNV. ValuEngine downgraded Franco Nevada from a hold rating to a sell rating in a research note on Tuesday, September 4th. Barclays initiated coverage on Franco Nevada in a research note on Wednesday, October 10th. They issued an overweight rating and a $70.00 price objective for the company. TD Securities reduced their price objective on Franco Nevada from $82.00 to $79.00 and set a buy rating for the company in a research note on Wednesday, November 7th. Zacks Investment Research downgraded Franco Nevada from a hold rating to a strong sell rating in a research note on Thursday, October 11th. Finally, Credit Suisse Group reissued a neutral rating on shares of Franco Nevada in a research note on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Franco Nevada presently has a consensus rating of Hold and a consensus target price of $85.38.

Shares of FNV stock opened at $71.98 on Wednesday. The company has a market cap of $13.41 billion, a PE ratio of 66.65, a price-to-earnings-growth ratio of 15.34 and a beta of -0.06. Franco Nevada has a 1-year low of $58.26 and a 1-year high of $80.79.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, November 5th. The basic materials company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. The business had revenue of $170.60 million during the quarter, compared to the consensus estimate of $158.85 million. Franco Nevada had a return on equity of 4.76% and a net margin of 31.81%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS. Research analysts anticipate that Franco Nevada will post 1.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, December 5th. Franco Nevada’s payout ratio is currently 88.89%.

A number of large investors have recently modified their holdings of FNV. Tuttle Tactical Management purchased a new stake in Franco Nevada in the 2nd quarter valued at $111,000. Stratos Wealth Partners LTD. purchased a new stake in Franco Nevada in the 3rd quarter valued at $146,000. Janney Montgomery Scott LLC purchased a new stake in Franco Nevada in the 2nd quarter valued at $218,000. Cumberland Partners Ltd purchased a new stake in Franco Nevada in the 2nd quarter valued at $234,000. Finally, Argent Trust Co purchased a new stake in Franco Nevada in the 2nd quarter valued at $333,000. Institutional investors own 65.52% 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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