Franco-Nevada (NYSE:FNV) PT Raised to $141.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective upped by Raymond James from $138.00 to $141.00 in a research report sent to investors on Thursday, Benzinga reports. Raymond James currently has an outperform rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They set a hold rating and a $117.00 price target for the company. Bank of America cut their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a buy rating for the company in a research note on Monday, March 18th. TheStreet cut shares of Franco-Nevada from a c+ rating to a d+ rating in a research note on Tuesday, March 5th. Finally, Scotiabank cut their target price on shares of Franco-Nevada from $141.00 to $139.00 and set a sector perform rating for the company in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of Hold and a consensus target price of $147.30.

Franco-Nevada Stock Performance

NYSE FNV opened at $118.05 on Thursday. The stock has a market cap of $22.69 billion, a PE ratio of -48.58, a PEG ratio of 6.49 and a beta of 0.71. Franco-Nevada has a twelve month low of $102.29 and a twelve month high of $161.25. The firm has a 50-day simple moving average of $112.92 and a 200 day simple moving average of $116.40.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $303.30 million during the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. Research analysts forecast that Franco-Nevada will post 2.75 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is currently -55.97%.

Institutional Trading of Franco-Nevada

A number of hedge funds and other institutional investors have recently modified their holdings of FNV. VisionPoint Advisory Group LLC acquired a new stake in shares of Franco-Nevada in the third quarter valued at approximately $30,000. Castleview Partners LLC acquired a new stake in shares of Franco-Nevada in the third quarter valued at approximately $33,000. Creative Financial Designs Inc. ADV acquired a new stake in Franco-Nevada during the 4th quarter worth $34,000. State of Wyoming acquired a new stake in Franco-Nevada during the 4th quarter worth $38,000. Finally, Allworth Financial LP grew its holdings in Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 345 shares during the period. Institutional investors and hedge funds 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.