Franco-Nevada (NYSE:FNV) Price Target Raised to $185.00 at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target increased by HC Wainwright from $175.00 to $185.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

A number of other research firms have also recently weighed in on FNV. Jefferies Financial Group upped their price target on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a hold rating in a research note on Monday, April 22nd. Scotiabank upped their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a sector perform rating in a research note on Thursday, April 18th. Bank of America lowered their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a buy rating on the stock in a research note on Monday, March 18th. Raymond James upped their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Finally, TheStreet cut shares of Franco-Nevada from a c+ rating to a d+ rating in a research note on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has a consensus rating of Hold and a consensus target price of $148.60.

Franco-Nevada Stock Performance

Shares of FNV opened at $126.36 on Monday. The stock has a market capitalization of $24.30 billion, a P/E ratio of -50.75, a P/E/G ratio of 6.29 and a beta of 0.72. The company’s fifty day moving average is $117.97 and its two-hundred day moving average is $114.82. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $160.86.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The company had revenue of $256.80 million for the quarter, compared to analysts’ expectations of $250.50 million. During the same period in the previous year, the company posted $0.79 EPS. Franco-Nevada’s revenue was down 7.1% compared to the same quarter last year. Sell-side analysts predict that Franco-Nevada will post 2.97 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. Franco-Nevada’s dividend payout ratio (DPR) is -57.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its holdings in Franco-Nevada by 15.6% in the 4th quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock valued at $163,156,000 after purchasing an additional 198,144 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Franco-Nevada by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock valued at $948,364,000 after purchasing an additional 112,274 shares in the last quarter. Beddow Capital Management Inc. lifted its holdings in Franco-Nevada by 3.8% in the 4th quarter. Beddow Capital Management Inc. now owns 56,639 shares of the basic materials company’s stock valued at $6,276,000 after purchasing an additional 2,059 shares in the last quarter. Fielder Capital Group LLC purchased a new position in Franco-Nevada in the 4th quarter valued at about $906,000. Finally, Invesco Ltd. lifted its holdings in Franco-Nevada by 11.9% in the 3rd quarter. Invesco Ltd. now owns 491,631 shares of the basic materials company’s stock valued at $65,628,000 after purchasing an additional 52,401 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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.