Analysts Set Franco-Nevada Co. (NYSE:FNV) Price Target at $148.60

Shares of Franco-Nevada Co. (NYSE:FNVGet Free Report) (TSE:FNV) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $148.60.

Several research analysts have recently issued reports on FNV shares. Jefferies Financial Group increased their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Raymond James increased their price objective on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. TheStreet lowered Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Bank of America reduced their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Finally, Scotiabank increased 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.

Read Our Latest Stock Report on Franco-Nevada

Hedge Funds Weigh In On Franco-Nevada

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

Franco-Nevada Stock Down 1.5 %

Shares of Franco-Nevada stock opened at $125.90 on Friday. The business has a 50 day moving average of $119.17 and a 200 day moving average of $114.45. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $158.79. The company has a market cap of $24.21 billion, a PE ratio of -50.56, a P/E/G ratio of 6.10 and a beta of 0.72.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last announced its quarterly earnings results 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 quarter in the previous year, the company earned $0.79 earnings per share. Franco-Nevada’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts anticipate that Franco-Nevada will post 3.17 earnings per share 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 annualized dividend and a yield of 1.14%. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.43%.

Franco-Nevada Company Profile

(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.

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Analyst Recommendations for Franco-Nevada (NYSE:FNV)

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