Franco-Nevada (NYSE:FNV) Price Target Lowered to $155.00 at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective reduced by HC Wainwright from $200.00 to $155.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

FNV has been the topic of a number of other reports. UBS Group started coverage on shares of Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 price target on the stock. Scotiabank lowered their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Jefferies Financial Group cut their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Stock Performance

NYSE FNV opened at $116.21 on Friday. The firm has a 50-day moving average of $124.75 and a 200-day moving average of $123.32. The stock has a market cap of $22.37 billion, a PE ratio of -36.78 and a beta of 0.72. Franco-Nevada has a 52-week low of $103.64 and a 52-week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The business had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. As a group, analysts predict that Franco-Nevada will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada’s payout ratio is currently -45.57%.

Institutional Trading of Franco-Nevada

Institutional investors have recently added to or reduced their stakes in the stock. Mechanics Financial Corp increased its holdings in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares during the last quarter. Kings Path Partners LLC acquired a new position in Franco-Nevada in the second quarter worth about $36,000. Sunbelt Securities Inc. lifted its position in shares of Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares during the last quarter. Point72 DIFC Ltd bought a new position in Franco-Nevada during the 3rd quarter worth $52,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Franco-Nevada during the third quarter worth approximately $55,000. 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.