Franco-Nevada (NYSE:FNV) PT Raised to $129.00

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

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

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $121.61 on Monday. The stock has a market capitalization of $23.39 billion, a PE ratio of -49.29, a price-to-earnings-growth ratio of 6.22 and a beta of 0.71. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $161.25. The company has a 50-day simple moving average of $114.80 and a two-hundred day simple moving average of $115.83.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued 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 negative net margin of 38.26% and a positive return on equity of 10.61%. The business had revenue of $303.30 million during the quarter. As a group, equities research analysts forecast that Franco-Nevada will post 2.9 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.36 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio is presently -55.97%.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently modified their holdings of FNV. VisionPoint Advisory Group LLC bought a new position in shares of Franco-Nevada during the third quarter worth $30,000. Castleview Partners LLC bought a new position in shares of Franco-Nevada during the third quarter worth $33,000. Creative Financial Designs Inc. ADV bought a new position in shares of Franco-Nevada during the fourth quarter worth $34,000. Allworth Financial LP boosted its position in shares of Franco-Nevada by 5,750.0% during the fourth 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 last quarter. Finally, Fortis Group Advisors LLC boosted its position in shares of Franco-Nevada by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 176 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.