According to Zacks, “Franco-Nevada Corporation is a gold focused royalty and stream company with additional interests in platinum group metals and other resource assets. The Company’s assets are mostly mineral and oil & gas royalties or streams but also include some working and equity interests, undeveloped properties, options to acquire royalties and other assets. The mineral assets are further characterized by commodity as being in the Gold, PGM or Other Minerals categories and these in turn are further subdivided by their project status as being either, Operating, Advanced or Exploration royalties. Majorities of the Mineral Royalties are characterized as being Gold and the majority of revenues are from gold operations. The Oil & Gas interests are located primarily in the Western Canadian sedimentary basin with a larger amount of revenue generated from conventional oil than from natural gas properties. Franco-Nevada Corporation is headquartered in Toronto, Canada. “
Several other equities research analysts have also commented on the stock. Bank of America Corp. assumed coverage on shares of Franco-Nevada Corp. in a report on Tuesday, August 9th. They issued a buy rating on the stock. HSBC reaffirmed a buy rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. Vetr raised shares of Franco-Nevada Corp. from a strong sell rating to a sell rating and set a $62.44 price target on the stock in a report on Wednesday, June 22nd. Deutsche Bank AG reaffirmed a sell rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. Finally, TheStreet lowered shares of Franco-Nevada Corp. from a buy rating to a hold rating in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $69.11.
Shares of Franco-Nevada Corp. (NYSE:FNV) traded down 1.59% during midday trading on Monday, hitting $62.66. The stock had a trading volume of 240,689 shares. The firm has a 50 day moving average price of $71.06 and a 200-day moving average price of $70.73. Franco-Nevada Corp. has a 52-week low of $41.47 and a 52-week high of $81.16. The stock has a market cap of $11.16 billion, a PE ratio of 185.38 and a beta of 0.18.
Franco-Nevada Corp. (NYSE:FNV) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $150.90 million for the quarter, compared to analyst estimates of $149.36 million. Franco-Nevada Corp. had a net margin of 11.05% and a return on equity of 3.02%. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 earnings per share. Equities analysts predict that Franco-Nevada Corp. will post $0.90 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.38%. Franco-Nevada Corp.’s payout ratio is 275.00%.
A number of hedge funds have recently added to or reduced their stakes in FNV. Van ECK Associates Corp increased its stake in Franco-Nevada Corp. by 24.7% in the second quarter. Van ECK Associates Corp now owns 7,831,846 shares of the company’s stock worth $595,690,000 after buying an additional 1,550,588 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Franco-Nevada Corp. by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 7,092,405 shares of the company’s stock worth $539,121,000 after buying an additional 41,201 shares during the last quarter. Vanguard Group Inc. increased its stake in Franco-Nevada Corp. by 11.2% in the second quarter. Vanguard Group Inc. now owns 3,648,583 shares of the company’s stock worth $277,511,000 after buying an additional 366,365 shares during the last quarter. Swiss National Bank increased its stake in Franco-Nevada Corp. by 9.4% in the second quarter. Swiss National Bank now owns 1,923,500 shares of the company’s stock worth $145,548,000 after buying an additional 164,600 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Franco-Nevada Corp. by 147.9% in the first quarter. 1832 Asset Management L.P. now owns 1,840,010 shares of the company’s stock worth $188,953,000 after buying an additional 1,097,840 shares during the last quarter. Institutional investors own 64.49% of the company’s stock.
About Franco-Nevada Corp.
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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