Franco-Nevada Co. (NYSE:FNV) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Franco-Nevada Co. (NYSE:FNVGet Rating) (TSE:FNV) have been assigned an average rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $163.43.

A number of equities analysts recently issued reports on FNV shares. Barclays dropped their price target on shares of Franco-Nevada from $112.00 to $111.00 and set an “underweight” rating on the stock in a research note on Monday, October 17th. StockNews.com started coverage on shares of Franco-Nevada in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. National Bank Financial upped their price target on shares of Franco-Nevada from C$190.00 to C$200.00 in a research note on Friday, January 13th. Finally, Stifel Nicolaus cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Friday.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently made changes to their positions in FNV. BlackRock Inc. increased its position in shares of Franco-Nevada by 3.3% during the 1st quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company’s stock valued at $61,693,000 after purchasing an additional 12,446 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Franco-Nevada by 10.2% during the 1st quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company’s stock valued at $318,000 after purchasing an additional 184 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Franco-Nevada by 23.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company’s stock valued at $11,035,000 after purchasing an additional 12,993 shares during the last quarter. Aviva PLC increased its position in shares of Franco-Nevada by 5.8% during the 1st quarter. Aviva PLC now owns 62,996 shares of the basic materials company’s stock valued at $10,040,000 after purchasing an additional 3,438 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Franco-Nevada by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company’s stock valued at $1,014,271,000 after purchasing an additional 141,139 shares during the last quarter. Hedge funds and other institutional investors own 66.69% of the company’s stock.

Franco-Nevada Trading Up 0.6 %

Shares of FNV stock opened at $147.13 on Friday. Franco-Nevada has a 12 month low of $109.70 and a 12 month high of $169.32. The stock has a market cap of $28.23 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 10.24 and a beta of 0.65. The company’s fifty day moving average price is $140.88 and its 200-day moving average price is $130.40.

Franco-Nevada (NYSE:FNVGet Rating) (TSE:FNV) last announced its earnings results on Monday, November 7th. The basic materials company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Franco-Nevada had a net margin of 57.18% and a return on equity of 11.27%. The firm had revenue of $304.20 million for the quarter. On average, sell-side analysts forecast that Franco-Nevada will post 3.67 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $1.36 annualized dividend and a yield of 0.92%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. Franco-Nevada’s dividend payout ratio is currently 32.41%.

Franco-Nevada Company Profile

(Get Rating)

Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.

Further Reading

Analyst Recommendations for Franco-Nevada (NYSE:FNV)

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