Franco-Nevada (NYSE:FNV) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) announced its earnings results on Wednesday. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $320.40 million for the quarter, compared to analyst estimates of $307.88 million. During the same quarter last year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year.

Franco-Nevada Price Performance

Shares of FNV stock opened at $136.77 on Friday. The firm’s 50-day moving average is $138.39 and its two-hundred day moving average is $132.45. Franco-Nevada has a 12 month low of $109.70 and a 12 month high of $169.32. The company has a market capitalization of $26.24 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 9.88 and a beta of 0.69.

Franco-Nevada Increases Dividend

The company 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 is Wednesday, March 15th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 0.99%. Franco-Nevada’s payout ratio is 32.41%.

Hedge Funds Weigh In On Franco-Nevada

Institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new position in Franco-Nevada during the fourth quarter worth about $38,000. Penserra Capital Management LLC purchased a new position in Franco-Nevada during the first quarter worth about $47,000. Sanctuary Wealth Management L.L.C. purchased a new position in Franco-Nevada during the fourth quarter worth about $65,000. Money Concepts Capital Corp raised its stake in Franco-Nevada by 1,213.3% during the fourth quarter. Money Concepts Capital Corp now owns 1,090 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 1,007 shares during the period. Finally, Fortis Capital Advisors LLC purchased a new position in Franco-Nevada during the fourth quarter worth about $154,000. 66.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FNV has been the topic of several research analyst reports. CIBC lifted their target price on shares of Franco-Nevada from C$230.00 to C$240.00 in a research report on Tuesday, February 7th. Raymond James dropped their target price on shares of Franco-Nevada from $167.00 to $158.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Barclays lifted their target price on shares of Franco-Nevada from $111.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, January 30th. National Bank Financial boosted their price target on shares of Franco-Nevada from C$190.00 to C$200.00 in a research report on Friday, January 13th. Finally, HC Wainwright restated a “buy” rating and set a $145.00 price target on shares of Franco-Nevada in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $166.57.

About Franco-Nevada

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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.