Franco-Nevada (NYSE:FNV) Given New $155.00 Price Target at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target decreased by HC Wainwright from $200.00 to $155.00 in a report published on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the basic materials company’s stock. HC Wainwright also issued estimates for Franco-Nevada’s FY2024 earnings at $2.81 EPS and FY2025 earnings at $3.68 EPS.

A number of other research firms also recently issued reports on FNV. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Jefferies Financial Group lowered their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. UBS Group assumed coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Finally, Scotiabank reduced their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada Trading Up 0.9 %

Shares of Franco-Nevada stock opened at $116.21 on Friday. The company’s fifty day simple moving average is $124.60 and its two-hundred day simple moving average is $123.30. Franco-Nevada has a 12-month low of $103.64 and a 12-month high of $137.60. The company has a market cap of $22.37 billion, a P/E ratio of -36.78 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. Analysts predict that Franco-Nevada will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Franco-Nevada by 0.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock worth $1,456,208,000 after acquiring an additional 64,429 shares during the period. Van ECK Associates Corp grew its stake in shares of Franco-Nevada by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock valued at $1,022,452,000 after purchasing an additional 151,566 shares during the period. Victory Capital Management Inc. increased its position in shares of Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in shares of Franco-Nevada by 19.4% in 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 purchasing an additional 537,047 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Franco-Nevada by 1.5% in the second quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock worth $386,597,000 after buying an additional 47,311 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

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.