Franco-Nevada (NYSE:FNV) Hits New 52-Week High - Here's Why

Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV's stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $155.00 and last traded at $154.46, with a volume of 1095 shares trading hands. The stock had previously closed at $153.35.

Analyst Ratings Changes

Several brokerages have recently weighed in on FNV. HC Wainwright increased their price target on Franco-Nevada from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. UBS Group upped their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Scotiabank lifted their target price on Franco-Nevada from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 11th. Raymond James boosted their target price on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada raised their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $153.63.

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Franco-Nevada Stock Performance

The firm's fifty day moving average price is $139.06 and its 200 day moving average price is $128.98. The firm has a market cap of $30.01 billion, a P/E ratio of -49.32, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada's dividend payout ratio is 53.15%.

Hedge Funds Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC bought a new stake in shares of Franco-Nevada in the 4th quarter valued at about $47,000. Physician Wealth Advisors Inc. purchased a new stake in Franco-Nevada during the fourth quarter valued at approximately $49,000. Point72 DIFC Ltd acquired a new stake in Franco-Nevada in the third quarter valued at approximately $52,000. Harbour Investments Inc. grew its holdings in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after purchasing an additional 93 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Franco-Nevada in the third quarter valued at about $55,000. Hedge funds and other 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.