Franco-Nevada (NYSE:FNV) Price Target Raised to $169.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective hoisted by Scotiabank from $165.00 to $169.00 in a report published on Monday,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

Other analysts have also recently issued research reports about the company. HC Wainwright lifted their price objective on Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th. BMO Capital Markets assumed coverage on Franco-Nevada in a report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Raymond James increased their price target on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, March 11th. Finally, National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.75.

Franco-Nevada Stock Down 1.8%

Shares of NYSE:FNV opened at $155.10 on Monday. The company’s fifty day moving average is $159.80 and its two-hundred day moving average is $139.27. The company has a market cap of $29.86 billion, a P/E ratio of -49.08, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. Franco-Nevada has a 12-month low of $112.70 and a 12-month high of $178.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same period in the previous year, the firm earned $0.76 earnings per share. Franco-Nevada’s quarterly revenue was up 43.5% on a year-over-year basis. Equities research analysts anticipate that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.98%. Franco-Nevada’s payout ratio is 47.50%.

Hedge Funds Weigh In On Franco-Nevada

Large investors have recently bought and sold shares of the stock. CX Institutional bought a new stake in shares of Franco-Nevada in the first quarter valued at about $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Franco-Nevada during the 1st quarter worth approximately $32,000. Nexus Investment Management ULC bought a new stake in shares of Franco-Nevada during the first quarter valued at approximately $35,000. Golden State Wealth Management LLC raised its stake in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 115 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 188 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.