Franco-Nevada (NYSE:FNV) Shares Up 4.5%

Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV)’s stock price shot up 4.5% during trading on Friday . The stock traded as high as $142.95 and last traded at $142.90. 514,430 shares were traded during trading, a decline of 23% from the average session volume of 667,236 shares. The stock had previously closed at $136.77.

Analysts Set New Price Targets

Several research firms recently commented on FNV. CIBC lifted their target price on shares of Franco-Nevada from C$230.00 to C$240.00 in a research report on Tuesday, February 7th. Stifel Nicolaus lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Barclays raised their price target on shares of Franco-Nevada from $111.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, January 30th. HC Wainwright restated a “buy” rating and set a $145.00 price target on shares of Franco-Nevada in a report on Friday. Finally, Raymond James lowered their price target on shares of Franco-Nevada from $158.00 to $157.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $166.43.

Franco-Nevada Stock Performance

The company has a market cap of $27.54 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 9.78 and a beta of 0.69. The firm’s 50 day moving average price is $138.46 and its two-hundred day moving average price is $132.58.

Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last announced its quarterly earnings results on Wednesday, March 15th. The basic materials company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01. The business had revenue of $320.40 million during the quarter, compared to analyst estimates of $307.88 million. Franco-Nevada had a net margin of 53.25% and a return on equity of 11.20%. Franco-Nevada’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. As a group, analysts forecast that Franco-Nevada Co. will post 3.45 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 15th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.32. Franco-Nevada’s payout ratio is 37.26%.

Institutional Trading of Franco-Nevada

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Chelsea Counsel Co. boosted its holdings in Franco-Nevada by 12.4% during the 4th quarter. Chelsea Counsel Co. now owns 6,345 shares of the basic materials company’s stock worth $866,000 after acquiring an additional 700 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in Franco-Nevada by 16.7% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 33,705 shares of the basic materials company’s stock worth $4,594,000 after acquiring an additional 4,830 shares during the last quarter. Adalta Capital Management LLC boosted its holdings in Franco-Nevada by 308.7% during the 4th quarter. Adalta Capital Management LLC now owns 12,260 shares of the basic materials company’s stock worth $1,673,000 after acquiring an additional 9,260 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Franco-Nevada by 19.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 63,325 shares of the basic materials company’s stock worth $8,624,000 after buying an additional 10,095 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Franco-Nevada by 0.6% in the 4th quarter. Alliancebernstein L.P. now owns 16,463 shares of the basic materials company’s stock worth $2,247,000 after buying an additional 94 shares during the last quarter. Institutional investors own 66.69% of the company’s stock.

Franco-Nevada Company Profile

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Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.