Franco-Nevada (NYSE:FNV) Price Target Raised to $170.00

by · The Cerbat Gem

Franco-Nevada (NYSE:FNV – Free Report) (TSE:FNV) had its price objective upped by UBS Group from $165.00 to $170.00 in a research report sent to investors on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the basic materials company’s stock.

A number of other brokerages have also recently commented on FNV. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. 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. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Finally, HC Wainwright raised their price target on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.63.

Read Our Latest Research Report on FNV

Franco-Nevada Stock Performance

NYSE FNV opened at $150.14 on Tuesday. The firm has a 50-day simple moving average of $135.47 and a 200 day simple moving average of $127.74. Franco-Nevada has a twelve month low of $112.70 and a twelve month high of $152.77. 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 0.73.

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 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Research analysts forecast that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.01%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently 53.15%.

Institutional Trading of Franco-Nevada

Hedge funds and other institutional investors have recently modified their holdings of the stock. Laurel Wealth Advisors LLC acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at approximately $47,000. Point72 DIFC Ltd acquired a new stake in shares of Franco-Nevada in the third quarter valued at approximately $52,000. Physician Wealth Advisors Inc. acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at approximately $49,000. Erste Asset Management GmbH acquired a new stake in shares of Franco-Nevada in the third quarter valued at approximately $55,000. Finally, Harbour Investments Inc. increased its holdings in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

About Franco-Nevada

(Get Free Report)

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.

Read More