HC Wainwright Issues Positive Forecast for Franco-Nevada (NYSE:FNV) Stock Price

Franco-Nevada (NYSE:FNV - Free Report) TSE: FNV had its price target boosted by HC Wainwright from $165.00 to $180.00 in a report released on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the basic materials company's stock.

A number of other research analysts have also recently commented on FNV. Royal Bank of Canada increased 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 report on Tuesday, February 11th. StockNews.com raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a report on Tuesday, March 11th. Raymond James increased their target price on Franco-Nevada from $160.00 to $162.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. Finally, Scotiabank lifted their price target on Franco-Nevada from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.50.

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Franco-Nevada Trading Down 1.2 %

Shares of NYSE:FNV traded down $1.88 during trading on Wednesday, reaching $155.36. The company had a trading volume of 737,278 shares, compared to its average volume of 658,606. The company has a fifty day moving average of $142.60 and a two-hundred day moving average of $130.54. The stock has a market capitalization of $29.92 billion, a P/E ratio of -49.16, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada has a 12 month low of $112.70 and a 12 month high of $159.38.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $304.33 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.98%. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 13th. Franco-Nevada's payout ratio is 53.15%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FNV. Van ECK Associates Corp raised its stake in Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company's stock worth $1,004,046,000 after acquiring an additional 193,968 shares during the period. Capital World Investors boosted its holdings in Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after acquiring an additional 711,591 shares during the period. Vanguard Group Inc. increased its position in shares of Franco-Nevada by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company's stock worth $916,540,000 after acquiring an additional 132,465 shares during the period. Bank of Montreal Can increased its stake in shares of Franco-Nevada by 0.3% during the fourth quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company's stock valued at $622,124,000 after buying an additional 15,273 shares during the period. Finally, EdgePoint Investment Group Inc. raised its stake in Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock worth $582,100,000 after buying an additional 1,650,358 shares in the last quarter. 77.06% of the stock is 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.