Franco-Nevada Co. (NYSE:FNV) Receives $146.71 Average Target Price from Analysts

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $153.63.

Several analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. HC Wainwright lifted their price target on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. UBS Group lifted their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Raymond James lifted their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday.

Hedge Funds Weigh In On Franco-Nevada

Large investors have recently made changes to their positions in the business. Laurel Wealth Advisors LLC acquired a new position in shares of Franco-Nevada during the fourth quarter worth $47,000. Physician Wealth Advisors Inc. acquired a new position in shares of Franco-Nevada in the 4th quarter valued at $49,000. Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada in the 3rd quarter valued at $52,000. Harbour Investments Inc. increased its position 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 acquiring an additional 93 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in shares of Franco-Nevada in the 3rd quarter valued at $55,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $150.14 on Friday. The company has a market cap of $28.91 billion, a P/E ratio of -47.51, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada has a 1 year low of $112.70 and a 1 year high of $152.77. The firm has a 50-day simple moving average of $135.47 and a two-hundred day simple moving average of $127.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts expect that Franco-Nevada will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.01%. Franco-Nevada’s dividend payout ratio is presently 53.15%.

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.