Royal Bank of Canada Issues Positive Forecast for Franco-Nevada (NYSE:FNV) Stock Price

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price increased by Royal Bank of Canada from $145.00 to $155.00 in a research report report published on Tuesday,BayStreet.CA reports. The firm currently has a sector perform rating on the basic materials company’s stock.

A number of other brokerages also recently weighed in on FNV. HC Wainwright reissued a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a report on Tuesday, January 28th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Scotiabank lowered their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. UBS Group assumed coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Jefferies Financial Group lowered their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Stock Down 0.2 %

Shares of FNV stock opened at $142.92 on Tuesday. Franco-Nevada has a 12 month low of $103.64 and a 12 month high of $143.77. The firm has a market cap of $27.52 billion, a PE ratio of -45.23, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74. The stock has a 50 day moving average of $126.00 and a 200-day moving average of $124.98.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Institutional Trading of Franco-Nevada

Several hedge funds have recently modified their holdings of FNV. Laurel Wealth Advisors LLC acquired a new position in Franco-Nevada during the 4th quarter worth $47,000. Point72 DIFC Ltd bought a new stake in shares of Franco-Nevada during the third quarter worth $52,000. Erste Asset Management GmbH bought a new position in Franco-Nevada in the third quarter valued at about $55,000. Harbour Investments Inc. increased its position in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Franco-Nevada in the fourth quarter worth about $73,000. 77.06% of the stock is owned by institutional investors.

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.