Scotiabank Raises Franco-Nevada (NYSE:FNV) Price Target to $140.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target hoisted by Scotiabank from $139.00 to $140.00 in a report published on Thursday, Marketbeat Ratings reports. They currently have a sector perform rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the stock. Raymond James upped their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an outperform rating in a report on Thursday, April 11th. TheStreet cut shares of Franco-Nevada from a c+ rating to a d+ rating in a report on Tuesday, March 5th. Jefferies Financial Group assumed coverage on shares of Franco-Nevada in a report on Thursday, February 29th. They issued a hold rating and a $117.00 target price for the company. Finally, Bank of America reduced their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a buy rating for the company in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $147.40.

Franco-Nevada Stock Down 0.2 %

NYSE FNV opened at $121.47 on Thursday. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $161.25. The stock has a market capitalization of $23.36 billion, a PE ratio of -49.99, a price-to-earnings-growth ratio of 6.67 and a beta of 0.71. The firm has a 50 day moving average of $114.12 and a two-hundred day moving average of $116.08.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The business had revenue of $303.30 million during the quarter. On average, equities research analysts expect that Franco-Nevada will post 2.76 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. 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 1.19%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio is presently -55.97%.

Hedge Funds Weigh In On Franco-Nevada

A number of large investors have recently bought and sold shares of the company. FMR LLC raised its position in Franco-Nevada by 1.3% during the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock worth $2,211,558,000 after buying an additional 208,392 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Franco-Nevada by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,008,095 shares of the basic materials company’s stock worth $1,219,807,000 after buying an additional 566,539 shares during the last quarter. FIL Ltd raised its position in Franco-Nevada by 7.8% during the 4th quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock worth $1,005,852,000 after buying an additional 659,324 shares during the last quarter. Van ECK Associates Corp raised its position in Franco-Nevada by 9.9% during the 4th quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock worth $972,707,000 after buying an additional 789,070 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Franco-Nevada by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company’s stock worth $802,731,000 after buying an additional 139,826 shares during the last quarter. Hedge funds and other 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.