Franco-Nevada (NYSE:FNV - Free Report) TSE: FNV had its price objective hoisted by Raymond James from $162.00 to $181.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the basic materials company's stock.
Other analysts also recently issued reports about the stock. UBS Group lifted their price objective on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. HC Wainwright boosted their price objective on Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Scotiabank raised their target price on Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Finally, TD Securities lowered Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.88.
Get Our Latest Analysis on Franco-Nevada
Franco-Nevada Trading Up 5.0 %
NYSE FNV traded up $7.09 during trading hours on Friday, reaching $150.13. The company's stock had a trading volume of 1,883,719 shares, compared to its average volume of 675,381. The stock has a market cap of $28.91 billion, a PE ratio of -47.51, a PEG ratio of 9.78 and a beta of 0.68. The business has a 50-day simple moving average of $146.00 and a 200 day simple moving average of $131.99. Franco-Nevada has a 52 week low of $112.70 and a 52 week high of $161.36.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same quarter last year, the business posted $0.90 EPS. The business's revenue was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Franco-Nevada will post 3.09 EPS for the current year.
Franco-Nevada Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.38 per share. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Thursday, March 13th. Franco-Nevada's payout ratio is presently 53.15%.
Institutional Investors Weigh In On Franco-Nevada
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC bought a new stake in shares of Franco-Nevada in the 1st quarter worth approximately $333,000. NBC Securities Inc. grew its position in Franco-Nevada by 121,433.3% in the first quarter. NBC Securities Inc. now owns 3,646 shares of the basic materials company's stock worth $574,000 after buying an additional 3,643 shares during the last quarter. Sanders Morris Harris LLC bought a new position in shares of Franco-Nevada in the first quarter valued at $254,000. GAMMA Investing LLC acquired a new stake in shares of Franco-Nevada during the 1st quarter valued at $1,415,000. Finally, Nexus Investment Management ULC bought a new stake in shares of Franco-Nevada during the 1st quarter worth $35,000. 77.06% of the stock is owned by institutional investors and hedge funds.
About Franco-Nevada
(
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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.
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