Scotiabank Forecasts Strong Price Appreciation for Franco-Nevada (NYSE:FNV) Stock

Franco-Nevada (NYSE:FNV - Free Report) TSE: FNV had its price objective hoisted by Scotiabank from $150.00 to $165.00 in a research note released on Monday morning, Marketbeat reports. Scotiabank currently has a sector perform rating on the basic materials company's stock.

Several other equities research analysts have also commented on FNV. Royal Bank of Canada raised their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. HC Wainwright increased their price target on Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Raymond James lifted their price objective on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. UBS Group increased their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a research note on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of "Moderate Buy" and a consensus price target of $162.25.

Franco-Nevada Stock Performance

Shares of FNV stock traded down $1.44 during mid-day trading on Monday, reaching $171.14. 1,026,124 shares of the company were exchanged, compared to its average volume of 692,898. The company has a market capitalization of $32.95 billion, a P/E ratio of -54.16, a P/E/G ratio of 9.78 and a beta of 0.68. The business's 50 day simple moving average is $150.39 and its 200 day simple moving average is $134.23. Franco-Nevada has a fifty-two week low of $112.70 and a fifty-two week high of $174.44.

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

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.89%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. Franco-Nevada's payout ratio is presently 53.15%.

Institutional Trading of Franco-Nevada

A number of institutional investors have recently made changes to their positions in the business. Covea Finance raised its holdings in Franco-Nevada by 2.7% in the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company's stock valued at $11,895,000 after acquiring an additional 2,700 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Franco-Nevada by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock worth $49,702,000 after acquiring an additional 16,029 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Franco-Nevada by 5.0% in the 4th quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock valued at $113,200,000 after buying an additional 45,495 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Franco-Nevada by 113.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company's stock valued at $601,000 after purchasing an additional 2,710 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Franco-Nevada in the 4th quarter valued at about $12,280,000. Institutional investors 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.