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

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective lifted by Scotiabank from $139.00 to $140.00 in a report issued on Thursday morning, MarketBeat reports. The firm currently has a sector perform rating on the basic materials company’s stock.

Several other brokerages have also recently issued reports on FNV. Bank of America lowered their price target on Franco-Nevada from $138.00 to $136.00 and set a buy rating on the stock in a research report on Monday, March 18th. TheStreet cut Franco-Nevada from a c+ rating to a d+ rating in a research report on Tuesday, March 5th. Raymond James raised their target price 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, Jefferies Financial Group initiated coverage on Franco-Nevada in a report on Thursday, February 29th. They set a hold rating and a $117.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $147.40.

Franco-Nevada Trading Up 1.0 %

Shares of Franco-Nevada stock opened at $121.65 on Thursday. Franco-Nevada has a twelve month low of $102.29 and a twelve month high of $161.25. The business’s 50 day simple moving average is $113.86 and its 200-day simple moving average is $116.23.

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 the consensus estimate of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The firm had revenue of $303.30 million for the quarter. Research analysts anticipate that Franco-Nevada will post 2.76 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. Franco-Nevada’s payout ratio is presently -55.97%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors have recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC acquired a new position in shares of Franco-Nevada in the 3rd quarter worth approximately $30,000. Castleview Partners LLC bought a new stake in shares of Franco-Nevada during the 3rd quarter valued at $33,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Franco-Nevada during the 4th quarter valued at $34,000. State of Wyoming acquired a new position in shares of Franco-Nevada in the 4th quarter valued at $38,000. Finally, Allworth Financial LP grew its holdings in shares of Franco-Nevada by 5,750.0% in the 4th 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. 77.06% of the stock is owned by institutional investors and hedge funds.

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.