Brokerages Set Franco-Nevada Co. (NYSE:FNV) PT at $145.33

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $146.71.

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. HC Wainwright restated a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a report on Tuesday, January 28th. Finally, UBS Group began coverage on Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 target price for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Franco-Nevada during the fourth quarter worth about $237,643,000. Arrowstreet Capital Limited Partnership lifted its stake in Franco-Nevada by 246.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock valued at $136,796,000 after acquiring an additional 828,166 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Franco-Nevada by 76.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock worth $159,530,000 after acquiring an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake 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 worth $56,762,000 after acquiring an additional 478,602 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.2 %

Shares of FNV opened at $142.43 on Monday. Franco-Nevada has a 12-month low of $103.64 and a 12-month high of $143.77. The stock’s fifty day simple moving average is $126.40 and its 200-day simple moving average is $125.10. The firm has a market capitalization of $27.42 billion, a PE ratio of -45.07, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

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.