Franco-Nevada (NYSE:FNV) Given New $165.00 Price Target at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target raised by Scotiabank from $150.00 to $165.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a sector perform rating on the basic materials company’s stock.

Several other research firms have also weighed in on FNV. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research report on Tuesday, March 11th. Raymond James boosted their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a report on Friday, April 4th. UBS Group increased their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright boosted their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. Finally, Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price of $162.25.

Franco-Nevada Stock Up 1.8 %

NYSE:FNV opened at $169.18 on Monday. Franco-Nevada has a twelve month low of $112.70 and a twelve month high of $169.87. The stock has a market cap of $32.58 billion, a P/E ratio of -53.54, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. The firm’s fifty day simple moving average is $148.08 and its 200 day simple moving average is $133.07.

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

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.90%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is 53.15%.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nexus Investment Management ULC purchased a new position in shares of Franco-Nevada in the first quarter worth $35,000. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the 4th quarter worth about $47,000. Physician Wealth Advisors Inc. bought a new position in Franco-Nevada during the 4th quarter valued at about $49,000. Harbour Investments Inc. boosted its holdings in shares of Franco-Nevada by 25.8% during the 4th 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. Finally, Versant Capital Management Inc bought a new stake in shares of Franco-Nevada in the first quarter worth approximately $55,000. 77.06% of the stock is owned by institutional investors.

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.