Franco-Nevada (NYSE:FNV) Hits New 52-Week High – Still a Buy?

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $155.00 and last traded at $154.46, with a volume of 1095 shares. The stock had previously closed at $153.35.

Analysts Set New Price Targets

FNV has been the topic of a number of recent research reports. Scotiabank lifted their price objective on Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Tuesday, March 11th. HC Wainwright upped their price target on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. UBS Group lifted their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Raymond James upped their target price on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $153.63.

Franco-Nevada Trading Up 0.2 %

The business’s fifty day simple moving average is $137.96 and its 200 day simple moving average is $128.62. The stock has a market cap of $29.71 billion, a P/E ratio of -48.83, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

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 issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.99%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio is currently 53.15%.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC bought a new position in shares of Franco-Nevada in the 4th quarter valued at about $47,000. Point72 DIFC Ltd bought a new position in shares of Franco-Nevada in the 3rd quarter valued at about $52,000. Physician Wealth Advisors Inc. bought a new position in shares of Franco-Nevada in the 4th quarter valued at about $49,000. Erste Asset Management GmbH bought a new position in shares of Franco-Nevada in the 3rd quarter valued at about $55,000. Finally, Harbour Investments Inc. boosted its stake in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

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.