Franco-Nevada (NYSE:FNV) Price Target Raised to $181.00 at Raymond James

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target hoisted by Raymond James from $162.00 to $181.00 in a research report released on Friday,Benzinga reports. Raymond James currently has an outperform rating on the basic materials company’s stock.

Several other equities research analysts have also weighed in on the stock. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. 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. Scotiabank lifted their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. UBS Group increased their price target on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, HC Wainwright boosted their price objective on Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.88.

Franco-Nevada Stock Down 8.7 %

NYSE:FNV opened at $144.86 on Friday. The firm has a market capitalization of $27.89 billion, a PE ratio of -45.84, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $161.36. The firm has a 50-day moving average price of $145.19 and a 200 day moving average price of $131.57.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. On average, research analysts expect that Franco-Nevada will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.05%. The ex-dividend date was Thursday, March 13th. Franco-Nevada’s payout ratio is currently 53.15%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Covea Finance boosted its stake in Franco-Nevada by 2.7% in the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after acquiring an additional 2,700 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Franco-Nevada by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock worth $49,702,000 after purchasing an additional 16,029 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Franco-Nevada by 113.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock worth $601,000 after purchasing an additional 2,710 shares during the period. Tri Ri Asset Management Corp bought a new stake in Franco-Nevada in the third quarter valued at about $3,433,000. Finally, Horizon Kinetics Asset Management LLC lifted its stake in Franco-Nevada by 5.6% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 988,033 shares of the basic materials company’s stock valued at $116,183,000 after buying an additional 52,199 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

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.