Franco-Nevada (NYSE:FNV) Price Target Raised to $133.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective hoisted by Jefferies Financial Group from $129.00 to $133.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a hold rating on the basic materials company’s stock.

FNV has been the topic of a number of other research reports. HC Wainwright increased their price target on shares of Franco-Nevada from $175.00 to $185.00 and gave the stock a buy rating in a report on Monday, May 6th. Scotiabank increased their price target on shares of Franco-Nevada from $140.00 to $141.00 and gave the stock a sector perform rating in a report on Thursday, May 23rd. Bank of America increased their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a buy rating in a report on Wednesday, June 26th. Finally, Raymond James increased their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an outperform rating in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada presently has a consensus rating of Hold and a consensus price target of $152.33.

Franco-Nevada Trading Up 1.3 %

Franco-Nevada stock opened at $129.11 on Friday. The firm’s 50 day simple moving average is $122.28 and its 200 day simple moving average is $116.28. The firm has a market capitalization of $24.84 billion, a PE ratio of -51.85, a price-to-earnings-growth ratio of 24.27 and a beta of 0.74. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $149.06.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates 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 negative net margin of 39.88% and a positive return on equity of 10.81%. The business’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 firm earned $0.79 EPS. Research analysts forecast that Franco-Nevada will post 3.25 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.44 annualized dividend and a yield of 1.12%. Franco-Nevada’s payout ratio is currently -57.83%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors have recently added to or reduced their stakes in the company. Scotia Capital Inc. boosted its position in Franco-Nevada by 27.1% during the 4th quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock valued at $16,474,000 after buying an additional 31,796 shares during the period. Allianz Asset Management GmbH lifted its position in shares of Franco-Nevada by 108.1% in the 4th quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock worth $50,671,000 after purchasing an additional 236,503 shares during the period. Alberta Investment Management Corp lifted its position in shares of Franco-Nevada by 2.3% in the 4th quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock worth $49,825,000 after purchasing an additional 10,250 shares during the period. Bornite Capital Management LP purchased a new stake in shares of Franco-Nevada in the 4th quarter worth about $8,167,000. Finally, Mackenzie Financial Corp lifted its position in shares of Franco-Nevada by 15.6% in the 4th quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock worth $163,156,000 after purchasing an additional 198,144 shares during the period. 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.