HC Wainwright Forecasts Strong Price Appreciation for Franco-Nevada (NYSE:FNV) Stock

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target upped by HC Wainwright from $195.00 to $200.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other analysts have also recently issued reports on the company. UBS Group increased their price objective on Franco-Nevada from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Raymond James Financial set a $186.00 price objective on Franco-Nevada and gave the stock an “outperform” rating in a report on Wednesday, May 28th. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a report on Tuesday, June 24th. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.88.

Franco-Nevada Stock Performance

FNV stock opened at $177.75 on Tuesday. The company has a market capitalization of $34.24 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 2.34 and a beta of 0.36. Franco-Nevada has a fifty-two week low of $112.70 and a fifty-two week high of $179.99. The stock has a fifty day moving average of $164.68 and a 200-day moving average of $158.04.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a return on equity of 12.82% and a net margin of 58.82%. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 EPS. Equities analysts predict that Franco-Nevada will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.9%. Franco-Nevada’s dividend payout ratio (DPR) is presently 47.50%.

Institutional Trading of Franco-Nevada

Several institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Franco-Nevada by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock valued at $1,923,400,000 after buying an additional 207,232 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Franco-Nevada by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,086,420 shares of the basic materials company’s stock valued at $1,327,612,000 after buying an additional 241,081 shares in the last quarter. Capital World Investors raised its holdings in shares of Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock valued at $934,106,000 after buying an additional 711,591 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock valued at $582,100,000 after buying an additional 1,650,358 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Franco-Nevada by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company’s stock valued at $504,069,000 after buying an additional 400,384 shares in the last quarter. Hedge funds and other 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.