Franco-Nevada (NYSE:FNV) Price Target Cut to $141.00 by Analysts at Scotiabank

Franco-Nevada (NYSE:FNV - Free Report) TSE: FNV had its price target cut by Scotiabank from $142.00 to $141.00 in a research report report published on Friday,Benzinga reports. They currently have a sector perform rating on the basic materials company's stock.

FNV has been the topic of several other research reports. StockNews.com upgraded shares of Franco-Nevada from a "sell" rating to a "hold" rating in a report on Thursday, August 22nd. HC Wainwright boosted their price target on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday. Bank of America lowered shares of Franco-Nevada from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Securities raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group dropped their price target on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.57.

Franco-Nevada Price Performance

Franco-Nevada stock traded down $3.97 during mid-day trading on Friday, hitting $122.44. The company's stock had a trading volume of 873,434 shares, compared to its average volume of 655,895. The business has a 50 day moving average price of $126.65 and a 200-day moving average price of $124.10. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $137.60. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of -39.99, a price-to-earnings-growth ratio of 22.08 and a beta of 0.75.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The firm had revenue of $275.70 million during the quarter, compared to analysts' expectations of $279.11 million. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm's quarterly revenue was down 10.9% compared to the same quarter last year. On average, equities research analysts expect that Franco-Nevada will post 3.25 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada's payout ratio is currently -45.57%.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in FNV. Massachusetts Financial Services Co. MA grew its stake in Franco-Nevada by 0.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company's stock valued at $1,456,208,000 after acquiring an additional 64,429 shares in the last quarter. Van ECK Associates Corp raised its stake in Franco-Nevada by 1.8% during the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company's stock valued at $1,022,452,000 after purchasing an additional 151,566 shares in the last quarter. Vanguard Group Inc. lifted its position in Franco-Nevada by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company's stock valued at $878,696,000 after purchasing an additional 129,876 shares during the last quarter. Capital World Investors increased its holdings in shares of Franco-Nevada by 2.7% in the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company's stock worth $547,807,000 after buying an additional 120,367 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock valued at $433,538,000 after buying an additional 424,810 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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.