Franco-Nevada (NYSE:FNV) Price Target Raised to $169.00 at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target hoisted by Scotiabank from $165.00 to $169.00 in a research report released on Monday morning,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

FNV has been the subject of several other research reports. Royal Bank of Canada raised their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Raymond James lifted their price objective on Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. HC Wainwright boosted their price objective on Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, March 11th. Finally, StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.75.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $155.10 on Monday. The business has a 50 day simple moving average of $159.80 and a 200 day simple moving average of $139.27. The company has a market capitalization of $29.86 billion, a PE ratio of -49.08, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. Franco-Nevada has a one year low of $112.70 and a one year high of $178.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. Equities analysts anticipate that Franco-Nevada will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently 47.50%.

Hedge Funds Weigh In On Franco-Nevada

Several large investors have recently bought and sold shares of the business. CX Institutional bought a new stake in shares of Franco-Nevada during the 1st quarter valued at $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Franco-Nevada during the first quarter worth $32,000. Nexus Investment Management ULC bought a new stake in Franco-Nevada in the first quarter valued at about $35,000. Golden State Wealth Management LLC lifted its stake in Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock valued at $36,000 after buying an additional 115 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after buying an additional 188 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.