Franco-Nevada (NYSE:FNV) Price Target Raised to $165.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target increased by Scotiabank from $150.00 to $165.00 in a report issued on Monday, Marketbeat Ratings reports. The firm currently has a sector perform rating on the basic materials company’s stock.

Other equities analysts have also issued reports about the stock. HC Wainwright raised their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th. TD Securities downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. UBS Group upped their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 11th. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a research note on Wednesday, April 2nd. Finally, StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, April 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.25.

Franco-Nevada Price Performance

Shares of FNV stock opened at $172.76 on Monday. The stock has a market capitalization of $33.27 billion, a price-to-earnings ratio of -54.67, a PEG ratio of 9.78 and a beta of 0.68. The company’s fifty day simple moving average is $149.26 and its two-hundred day simple moving average is $133.59. Franco-Nevada has a 1 year low of $112.70 and a 1 year high of $174.44.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. During the same period in the previous year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Thursday, March 13th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.88%. Franco-Nevada’s dividend payout ratio is 53.15%.

Institutional Trading of Franco-Nevada

A number of hedge funds have recently bought and sold shares of the company. CX Institutional purchased a new position in shares of Franco-Nevada during the first quarter worth approximately $30,000. Nexus Investment Management ULC bought a new position in shares of Franco-Nevada during the 1st quarter valued at $35,000. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the 4th quarter worth $47,000. Physician Wealth Advisors Inc. bought a new stake in Franco-Nevada in the fourth quarter worth $49,000. Finally, Harbour Investments Inc. boosted its position in Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after buying an additional 93 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.