Franco-Nevada (NYSE:FNV) Announces Quarterly Earnings Results

Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01, Briefing.com reports. Franco-Nevada had a net margin of 57.18% and a return on equity of 11.27%. The firm had revenue of $320.40 million for the quarter, compared to analyst estimates of $307.88 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis.

Franco-Nevada Trading Up 0.9 %

Shares of Franco-Nevada stock opened at $136.77 on Friday. The company has a market cap of $26.24 billion, a P/E ratio of 34.63, a PEG ratio of 9.88 and a beta of 0.69. The business has a 50-day moving average price of $138.45 and a two-hundred day moving average price of $132.42. Franco-Nevada has a 1-year low of $109.70 and a 1-year high of $169.32.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, March 15th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 0.99%. Franco-Nevada’s dividend payout ratio is presently 32.41%.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently bought and sold shares of FNV. Norges Bank acquired a new position in Franco-Nevada during the 4th quarter valued at about $219,378,000. Triasima Portfolio Management inc. purchased a new stake in shares of Franco-Nevada in the fourth quarter worth about $33,842,000. Vanguard Group Inc. boosted its holdings in Franco-Nevada by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,670,398 shares of the basic materials company’s stock valued at $796,979,000 after purchasing an additional 192,144 shares during the period. Morgan Stanley boosted its stake in Franco-Nevada by 18.0% during the fourth quarter. Morgan Stanley now owns 991,968 shares of the basic materials company’s stock valued at $135,384,000 after buying an additional 151,211 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Franco-Nevada by 27.5% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 409,595 shares of the basic materials company’s stock valued at $65,237,000 after acquiring an additional 88,297 shares during the last quarter. 66.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FNV has been the topic of several research reports. CIBC boosted their price objective on shares of Franco-Nevada from C$230.00 to C$240.00 in a research report on Tuesday, February 7th. National Bank Financial increased their price objective on Franco-Nevada from C$190.00 to C$200.00 in a report on Friday, January 13th. Barclays lifted their target price on Franco-Nevada from $111.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, January 30th. StockNews.com assumed coverage on shares of Franco-Nevada in a research note on Thursday. They set a “hold” rating for the company. Finally, Stifel Nicolaus lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, January 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $166.57.

Franco-Nevada Company Profile

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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.