Franco-Nevada (NYSE:FNV) Given New $129.00 Price Target at Jefferies Financial Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target upped by Jefferies Financial Group from $117.00 to $129.00 in a research note published on Monday, BayStreet.CA reports. They currently have a hold rating on the basic materials company’s stock.

A number of other research analysts also recently commented on the company. Raymond James increased their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an outperform rating in a report on Thursday, April 11th. Scotiabank increased their price objective on Franco-Nevada from $139.00 to $140.00 and gave the company a sector perform rating in a report on Thursday, April 18th. Bank of America dropped their price objective on Franco-Nevada from $138.00 to $136.00 and set a buy rating on the stock in a report on Monday, March 18th. Finally, TheStreet cut Franco-Nevada from a c+ rating to a d+ rating in a research report on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $148.60.

Franco-Nevada Stock Down 0.3 %

Shares of Franco-Nevada stock opened at $118.96 on Monday. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $161.25. The business’s fifty day simple moving average is $114.55 and its 200-day simple moving average is $115.81. The firm has a market cap of $22.88 billion, a PE ratio of -48.95, a price-to-earnings-growth ratio of 6.20 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The firm had revenue of $303.30 million for the quarter. As a group, equities analysts expect that Franco-Nevada will post 2.88 earnings per share for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.21%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently -55.97%.

Institutional Trading of Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Franco-Nevada by 1.3% during the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock worth $2,211,558,000 after acquiring an additional 208,392 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Franco-Nevada by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,008,095 shares of the basic materials company’s stock worth $1,219,807,000 after acquiring an additional 566,539 shares during the period. FIL Ltd lifted its position in Franco-Nevada by 7.8% during the 4th quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock worth $1,005,852,000 after acquiring an additional 659,324 shares during the period. Van ECK Associates Corp lifted its position in Franco-Nevada by 9.9% during the 4th quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock worth $972,707,000 after acquiring an additional 789,070 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Franco-Nevada by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company’s stock valued at $802,731,000 after buying an additional 139,826 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

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.