Franco-Nevada (NYSE:FNV) Price Target Raised to $141.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price upped by Scotiabank from $140.00 to $141.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a sector perform rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a hold rating in a research note on Monday, April 22nd. HC Wainwright upped their target price on shares of Franco-Nevada from $175.00 to $185.00 and gave the company a buy rating in a report on Monday, May 6th. Bank of America cut their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a buy rating on the stock in a research note on Monday, March 18th. Raymond James upped their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Finally, TheStreet cut Franco-Nevada from a c+ rating to a d+ rating in a research report on Tuesday, March 5th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $148.70.

Franco-Nevada Stock Up 0.6 %

NYSE FNV opened at $122.01 on Thursday. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $151.63. The firm has a 50 day moving average of $121.37 and a two-hundred day moving average of $114.58. The stock has a market capitalization of $23.46 billion, a PE ratio of -49.00, a price-to-earnings-growth ratio of 27.50 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted 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. The firm had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. Franco-Nevada’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, equities research analysts expect that Franco-Nevada will post 3.17 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given 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 1.18%. Franco-Nevada’s payout ratio is -57.43%.

Institutional Trading of Franco-Nevada

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Franco-Nevada during the 4th quarter worth approximately $221,351,000. M&G Plc acquired a new stake in Franco-Nevada during the 1st quarter worth about $219,971,000. Capital World Investors lifted its position in shares of Franco-Nevada by 45.8% in the 4th quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock valued at $495,909,000 after acquiring an additional 1,405,731 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Franco-Nevada by 68.1% in the first quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock valued at $328,972,000 after purchasing an additional 1,117,523 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Franco-Nevada by 39.5% in the 4th quarter. First Eagle Investment Management LLC now owns 3,150,097 shares of the basic materials company’s stock worth $348,940,000 after acquiring an additional 891,164 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.