Franco-Nevada (NYSE:FNV) Price Target Raised to $185.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price lifted by HC Wainwright from $175.00 to $185.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other research analysts also recently issued reports on the stock. Raymond James boosted their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Scotiabank boosted their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a sector perform rating in a research report on Thursday, April 18th. Jefferies Financial Group boosted their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a hold rating in a research report on Monday, April 22nd. TheStreet downgraded shares of Franco-Nevada from a c+ rating to a d+ rating in a research report on Tuesday, March 5th. Finally, Bank of America cut their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a buy rating for the company in a report on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $148.60.

Franco-Nevada Trading Up 0.3 %

FNV opened at $126.36 on Monday. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $160.86. The firm has a 50 day moving average of $117.97 and a two-hundred day moving average of $114.82. The firm has a market capitalization of $24.30 billion, a PE ratio of -50.75, a P/E/G ratio of 6.29 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $256.80 million during the quarter, compared to the consensus estimate of $250.50 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. As a group, analysts predict that Franco-Nevada will post 2.97 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be given a $0.36 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.14%. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Institutional Trading of Franco-Nevada

Several large investors have recently made changes to their positions in the company. Raymond James & Associates boosted its stake in Franco-Nevada by 0.3% during the 3rd quarter. Raymond James & Associates now owns 207,628 shares of the basic materials company’s stock worth $27,716,000 after purchasing an additional 623 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Franco-Nevada by 5.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,883 shares of the basic materials company’s stock worth $1,720,000 after buying an additional 718 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Franco-Nevada by 86.7% in the third quarter. Stratos Wealth Partners LTD. now owns 7,326 shares of the basic materials company’s stock worth $978,000 after buying an additional 3,403 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Franco-Nevada by 73.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 121,781 shares of the basic materials company’s stock worth $16,333,000 after buying an additional 51,705 shares in the last quarter. Finally, Castleview Partners LLC purchased a new position in shares of Franco-Nevada in the third quarter worth about $33,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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.