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

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target lifted by Scotiabank from $141.00 to $142.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company’s stock.

A number of other research firms also recently issued reports on FNV. StockNews.com downgraded shares of Franco-Nevada from a hold rating to a sell rating in a report on Wednesday, August 14th. HC Wainwright reiterated a buy rating and issued a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. Bank of America lifted their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a buy rating in a research note on Wednesday, June 26th. TD Securities upgraded shares of Franco-Nevada from a hold rating to a buy rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group lifted their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the company a hold rating in a research note on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $152.75.

Franco-Nevada Trading Down 0.4 %

FNV opened at $124.36 on Monday. The stock has a market capitalization of $23.93 billion, a P/E ratio of -49.94, a P/E/G ratio of 21.14 and a beta of 0.74. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $146.43. The firm’s fifty day simple moving average is $122.25 and its 200 day simple moving average is $119.15.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The business’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. On average, equities research analysts predict that Franco-Nevada will post 3.27 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. Franco-Nevada’s dividend payout ratio is presently -57.83%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FNV. Allspring Global Investments Holdings LLC acquired a new position in shares of Franco-Nevada during the 2nd quarter worth about $276,446,000. Norges Bank acquired a new position in Franco-Nevada in the 4th quarter valued at about $221,351,000. M&G Plc acquired a new position in Franco-Nevada in the 1st quarter valued at about $219,971,000. Capital World Investors grew its stake in 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 last quarter. Finally, EdgePoint Investment Group Inc. grew its stake in 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 last quarter. 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.