Brokerages Set Franco-Nevada Co. (NYSE:FNV) Target Price at $147.30

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) has been given an average recommendation of “Hold” by the eleven analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $147.40.

Several brokerages recently issued reports on FNV. Raymond James upped their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Jefferies Financial Group initiated coverage on shares of Franco-Nevada in a research report on Thursday, February 29th. They issued a “hold” rating and a $117.00 price target on the stock. Scotiabank increased their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research report on Thursday. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Finally, Bank of America cut their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds have recently made changes to their positions in FNV. VisionPoint Advisory Group LLC bought a new position in shares of Franco-Nevada during the 3rd quarter worth approximately $30,000. Castleview Partners LLC bought a new position in shares of Franco-Nevada in the third quarter valued at $33,000. Creative Financial Designs Inc. ADV bought a new position in shares of Franco-Nevada in the fourth quarter valued at $34,000. State of Wyoming bought a new position in shares of Franco-Nevada in the fourth quarter valued at $38,000. Finally, Allworth Financial LP grew its stake in shares of Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

FNV opened at $121.65 on Tuesday. The firm’s 50-day simple moving average is $113.86 and its 200-day simple moving average is $116.23. Franco-Nevada has a twelve month low of $102.29 and a twelve month high of $161.25. The firm has a market cap of $23.39 billion, a price-to-earnings ratio of -50.06, a PEG ratio of 6.42 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $303.30 million for the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. As a group, sell-side analysts anticipate that Franco-Nevada will post 2.76 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is currently -55.97%.

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.