Franco-Nevada (NYSE:FNV) PT Raised to $142.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective boosted by Bank of America from $141.00 to $142.00 in a research report report published on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the basic materials company’s stock.

Several other research firms have also issued reports on FNV. Raymond James increased their price objective on Franco-Nevada from $138.00 to $141.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. HC Wainwright boosted their price objective on Franco-Nevada from $175.00 to $185.00 and gave the stock a buy rating in a research note on Monday, May 6th. Jefferies Financial Group raised their target price on Franco-Nevada from $117.00 to $129.00 and gave the company a hold rating in a research note on Monday, April 22nd. Scotiabank upped their price target on shares of Franco-Nevada from $140.00 to $141.00 and gave the stock a sector perform rating in a research report on Thursday, May 23rd. Finally, TheStreet cut shares of Franco-Nevada from a c+ rating to a d+ rating in a research report on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $149.30.

Franco-Nevada Trading Down 1.4 %

FNV opened at $118.52 on Wednesday. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $149.06. The stock has a market cap of $22.80 billion, a PE ratio of -47.60, a P/E/G ratio of 22.60 and a beta of 0.77. The stock’s 50 day simple moving average is $121.83 and its 200-day simple moving average is $115.38.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The firm had revenue of $256.80 million during the quarter, compared to analyst estimates of $250.50 million. During the same quarter in the prior year, the business posted $0.79 earnings per share. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. Equities analysts forecast that Franco-Nevada will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.44 annualized dividend and a yield of 1.21%. Franco-Nevada’s dividend payout ratio is currently -57.83%.

Institutional Trading of Franco-Nevada

A number of institutional investors have recently bought and sold shares of FNV. Norges Bank acquired a new position in Franco-Nevada during the fourth quarter valued at approximately $221,351,000. M&G Plc acquired a new position in shares of Franco-Nevada in the 1st quarter valued at $219,971,000. Capital World Investors grew its holdings in shares of Franco-Nevada by 45.8% in the 4th quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock valued at $495,909,000 after buying an additional 1,405,731 shares during the period. EdgePoint Investment Group Inc. grew its holdings in shares of Franco-Nevada by 68.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock valued at $328,972,000 after buying an additional 1,117,523 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in shares of Franco-Nevada by 39.5% in the 4th quarter. First Eagle Investment Management LLC now owns 3,150,097 shares of the basic materials company’s stock valued at $348,940,000 after buying an additional 891,164 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

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.