Franco-Nevada (NYSE:FNV) Price Target Raised to $180.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price lifted by HC Wainwright from $165.00 to $180.00 in a research note released on Wednesday morning, Marketbeat reports. They currently have a buy rating on the basic materials company’s stock.

A number of other equities analysts have also recently weighed in on FNV. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. UBS Group lifted their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Raymond James upped their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, March 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 report on Tuesday, March 11th. Finally, Royal Bank of Canada upped their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.50.

Franco-Nevada Price Performance

Shares of FNV stock opened at $155.36 on Wednesday. The company has a market capitalization of $29.92 billion, a PE ratio of -49.16, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. The firm’s 50-day moving average is $142.60 and its two-hundred day moving average is $130.48. Franco-Nevada has a 12 month low of $112.70 and a 12 month high of $159.38.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. Sell-side analysts forecast that Franco-Nevada will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.98%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 13th. Franco-Nevada’s payout ratio is presently 53.15%.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds have recently bought and sold shares of the stock. Laurel Wealth Advisors LLC acquired a new position in shares of Franco-Nevada during the fourth quarter worth about $47,000. Point72 DIFC Ltd acquired a new position in Franco-Nevada during the 3rd quarter worth approximately $52,000. Physician Wealth Advisors Inc. acquired a new position in Franco-Nevada during the 4th quarter worth approximately $49,000. Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada in the 3rd quarter valued at approximately $55,000. Finally, Harbour Investments Inc. raised its holdings in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds 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.