Franco-Nevada (NYSE:FNV) PT Raised to $142.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective hoisted by Bank of America from $141.00 to $142.00 in a research report released on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the company. TheStreet cut Franco-Nevada from a c+ rating to a d+ rating in a research note on Tuesday, March 5th. HC Wainwright raised their target price on Franco-Nevada from $175.00 to $185.00 and gave the company a buy rating in a research note on Monday, May 6th. Scotiabank raised their price objective on Franco-Nevada from $140.00 to $141.00 and gave the company a sector perform rating in a research report on Thursday, May 23rd. Jefferies Financial Group raised their price objective on Franco-Nevada from $117.00 to $129.00 and gave the company a hold rating in a research report on Monday, April 22nd. Finally, Raymond James raised their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $149.30.

Franco-Nevada Stock Performance

NYSE FNV opened at $118.52 on Wednesday. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $149.06. The stock has a 50 day simple moving average of $121.83 and a two-hundred day simple moving average of $115.38. The stock has a market cap of $22.80 billion, a P/E ratio of -47.60, a price-to-earnings-growth ratio of 22.60 and a beta of 0.77.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $256.80 million during the quarter, compared to analysts’ expectations of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. Sell-side analysts predict that Franco-Nevada will post 3.2 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Thursday, June 13th. Franco-Nevada’s payout ratio is currently -57.83%.

Institutional Trading of Franco-Nevada

Several large investors have recently modified their holdings of FNV. Envestnet Asset Management Inc. grew its holdings in shares of Franco-Nevada by 77.2% in the third quarter. Envestnet Asset Management Inc. now owns 60,250 shares of the basic materials company’s stock worth $8,043,000 after acquiring an additional 26,245 shares during the period. LPL Financial LLC lifted its position in Franco-Nevada by 2.4% during the third quarter. LPL Financial LLC now owns 46,677 shares of the basic materials company’s stock valued at $6,231,000 after purchasing an additional 1,089 shares in the last quarter. Mariner LLC lifted its position in Franco-Nevada by 33.8% during the third quarter. Mariner LLC now owns 11,036 shares of the basic materials company’s stock valued at $1,473,000 after purchasing an additional 2,786 shares in the last quarter. Stifel Financial Corp lifted its position in Franco-Nevada by 19.7% during the third quarter. Stifel Financial Corp now owns 34,684 shares of the basic materials company’s stock valued at $4,630,000 after purchasing an additional 5,714 shares in the last quarter. Finally, Natixis Advisors L.P. lifted its position in Franco-Nevada by 10.8% during the third quarter. Natixis Advisors L.P. now owns 18,216 shares of the basic materials company’s stock valued at $2,432,000 after purchasing an additional 1,776 shares in the last quarter. 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.