Franco-Nevada Co. (FNV) To Go Ex-Dividend on June 12th

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Stockholders of record on Thursday, June 12th will be given a dividend of 0.38 per share by the basic materials company on Thursday, June 26th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, June 12th.

Franco-Nevada has raised its dividend payment by an average of 7.5% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Franco-Nevada has a dividend payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Franco-Nevada to earn $4.02 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 37.8%.

Franco-Nevada Stock Up 2.1 %

NYSE:FNV opened at $168.66 on Friday. The firm has a market capitalization of $32.48 billion, a PE ratio of -53.37, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $178.74. The firm has a 50-day moving average price of $159.01 and a 200 day moving average price of $138.85.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s revenue was up 43.5% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, research analysts expect that Franco-Nevada will post 3.09 EPS for the current year.

Wall Street Analyst Weigh In

FNV has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, March 11th. UBS Group increased their target price on Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Raymond James upped their price target on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Finally, StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $162.25.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.