Raymond James Increases Franco-Nevada (NYSE:FNV) Price Target to $181.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target lifted by Raymond James from $162.00 to $181.00 in a report issued on Friday,Benzinga reports. The firm currently has an outperform rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group lifted their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Scotiabank raised their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 11th. Finally, TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.88.

Franco-Nevada Stock Down 8.7 %

FNV stock opened at $144.86 on Friday. Franco-Nevada has a 52 week low of $112.70 and a 52 week high of $161.36. The firm has a 50-day simple moving average of $145.19 and a 200-day simple moving average of $131.67. The stock has a market capitalization of $27.89 billion, a P/E ratio of -45.84, a P/E/G ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently 53.15%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FNV. Versant Capital Management Inc acquired a new position in shares of Franco-Nevada in the 1st quarter valued at $55,000. Laurel Wealth Advisors LLC acquired a new position in Franco-Nevada in the fourth quarter valued at about $47,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada during the third quarter worth about $52,000. Physician Wealth Advisors Inc. purchased a new position in Franco-Nevada during the fourth quarter worth about $49,000. Finally, Harbour Investments Inc. increased its position in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 93 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.