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

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price upped by HC Wainwright from $175.00 to $185.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock. HC Wainwright also issued estimates for Franco-Nevada’s FY2024 earnings at $2.87 EPS and FY2025 earnings at $3.09 EPS.

Several other brokerages have also weighed in on FNV. Jefferies Financial Group upped their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a hold rating in a research report on Monday, April 22nd. TheStreet lowered Franco-Nevada from a c+ rating to a d+ rating in a 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. Scotiabank boosted their price target 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. Finally, Bank of America decreased their price objective 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. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Franco-Nevada has an average rating of Hold and an average target price of $148.60.

Franco-Nevada Stock Up 0.8 %

Shares of NYSE FNV opened at $127.38 on Monday. The firm’s 50-day simple moving average is $118.42 and its 200 day simple moving average is $114.91. The stock has a market cap of $24.50 billion, a P/E ratio of -51.16, a P/E/G ratio of 6.29 and a beta of 0.72. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $160.86.

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

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.13%. Franco-Nevada’s payout ratio is -57.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. VisionPoint Advisory Group LLC acquired a new position in Franco-Nevada during the third quarter valued at approximately $30,000. Castleview Partners LLC acquired a new stake in shares of Franco-Nevada in the 3rd quarter valued at $33,000. Creative Financial Designs Inc. ADV acquired a new position in Franco-Nevada during the 4th quarter worth approximately $34,000. Allworth Financial LP boosted 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 purchasing an additional 345 shares in the last quarter. Finally, Fortis Group Advisors LLC lifted its holdings in Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after buying an additional 176 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

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.