Brokerages Set Franco-Nevada Co. (NYSE:FNV) Target Price at $155.50

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $157.88.

Several analysts recently weighed in on FNV shares. HC Wainwright lifted their price target on Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. Scotiabank lifted their target price on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. Royal Bank of Canada upped 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. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, March 11th. Finally, UBS Group increased their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th.

Franco-Nevada Price Performance

FNV stock opened at $144.86 on Tuesday. Franco-Nevada has a one year low of $112.70 and a one year high of $161.36. The stock has a market cap of $27.89 billion, a price-to-earnings ratio of -45.84, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. The company has a fifty day moving average price of $145.19 and a two-hundred day moving average price of $131.62.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly 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. The business had revenue of $321.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. Research analysts anticipate that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 1.05%. Franco-Nevada’s dividend payout ratio (DPR) is currently 53.15%.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently modified their holdings of FNV. Norges Bank bought a new stake in shares of Franco-Nevada during the 4th quarter valued at approximately $237,643,000. EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 49.9% during 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 during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Franco-Nevada by 246.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock worth $136,796,000 after buying an additional 828,166 shares in the last quarter. Capital World Investors increased its holdings in shares of Franco-Nevada by 9.8% during the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock worth $934,106,000 after buying an additional 711,591 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Franco-Nevada by 11,659.0% during the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock valued at $56,762,000 after acquiring an additional 478,602 shares in the last quarter. 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.