Franco-Nevada (NYSE:FNV) Price Target Raised to $129.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target hoisted by Jefferies Financial Group from $117.00 to $129.00 in a research report sent to investors on Monday, BayStreet.CA reports. The brokerage currently has a hold rating on the basic materials company’s stock.

Other research analysts also recently issued reports about the company. Bank of America lowered their target price on Franco-Nevada from $138.00 to $136.00 and set a buy rating for the company in a research report on Monday, March 18th. Scotiabank raised their price target on Franco-Nevada from $139.00 to $140.00 and gave the stock a sector perform rating in a research report on Thursday, April 18th. Raymond James raised their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Finally, TheStreet downgraded Franco-Nevada from a c+ rating to a d+ rating in a research report on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $148.60.

Franco-Nevada Price Performance

FNV stock opened at $118.96 on Monday. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $161.25. The company has a market capitalization of $22.88 billion, a price-to-earnings ratio of -48.95, a PEG ratio of 6.20 and a beta of 0.71. The business has a 50 day simple moving average of $114.55 and a two-hundred day simple moving average of $115.81.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $303.30 million during the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. Sell-side analysts anticipate that Franco-Nevada will post 2.88 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.36 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.21%. Franco-Nevada’s dividend payout ratio (DPR) is presently -55.97%.

Institutional Trading of Franco-Nevada

A number of hedge funds and other institutional investors have recently bought and sold shares of FNV. VisionPoint Advisory Group LLC purchased a new stake in Franco-Nevada in the third quarter worth $30,000. Castleview Partners LLC purchased a new position in shares of Franco-Nevada during the third quarter valued at $33,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Franco-Nevada during the fourth quarter valued at $34,000. Allworth Financial LP increased its stake in shares of Franco-Nevada by 5,750.0% during the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares during the period. Finally, Fortis Group Advisors LLC increased its stake in shares of Franco-Nevada by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.