|Bid||177.15 x 0|
|Ask||177.20 x 0|
|Day's Range||175.47 - 178.62|
|52 Week Range||133.63 - 222.15|
|Beta (5Y Monthly)||0.50|
|PE Ratio (TTM)||82.76|
|Earnings Date||May 05, 2021|
|Forward Dividend & Yield||1.51 (0.86%)|
|Ex-Dividend Date||Mar. 10, 2021|
|1y Target Est||159.74|
Franco-Nevada has acquired 14.7% of Vale's outstanding Participating Debentures ("Royalty Debentures") from the Brazilian Development Bank ("BNDES") and the Government of Brazil for $538M. The Royalty Debentures provide holders with life of mine net sales royalties on Vale's Northern and Southeastern Iron Ore Systems and on certain copper and gold operations (together, the "Royalty"). This transaction provides royalty exposure to some of the world's largest and most profitable integrated iron ore mines with reserve weighted mine lives of 30 years and potential for multiple additional decades through reserve growth. The Royalty covers a total of 15.6 thousand square kilometers of mineral properties held by Vale in Brazil, also offering exposure to a number of development properties. The Royalty currently generates an annualized pre-tax cash yield of 10% based on acquisition cost and the most recent semi-annual Royalty Debenture payment. The amount of production capacity subject to the Royalty is expected to grow by approximately +60% by 2026 which would imply an 8% yield on investment at that time, assuming consensus long term iron ore prices.
Franco-Nevada Corporation is pleased to announce publication of its 2021 Environmental, Social and Governance ("ESG") Report and 2021 Asset Handbook. "We are proud to report on Franco-Nevada's sector leading ESG performance and our new programs and commitments that we believe will continue this leadership," said Paul Brink, President and CEO. "We strive to increase the quality of our Asset Handbook each year knowing it is a helpful resource for analysts and investors on our diverse asset base."
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