Analysts Set Franco-Nevada Co. (NYSE:FNV) PT at $155.50

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $157.88.

Several brokerages have recently weighed in on FNV. TD Securities cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, March 11th. Royal Bank of Canada increased 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 report on Tuesday, February 11th. UBS Group boosted their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Scotiabank increased their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 11th. Finally, HC Wainwright lifted their target price 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.

Franco-Nevada Price Performance

FNV opened at $144.86 on Tuesday. Franco-Nevada has a fifty-two week low of $112.70 and a fifty-two week high of $161.36. The company’s 50 day moving average price is $145.19 and its two-hundred day moving average price is $131.62. The firm has a market capitalization of $27.89 billion, a price-to-earnings ratio of -45.84, a PEG ratio of 9.78 and a beta of 0.68.

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

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.05%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Institutional Trading of Franco-Nevada

Several large investors have recently made changes to their positions in FNV. Covea Finance increased its stake in Franco-Nevada by 2.7% during the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after purchasing an additional 2,700 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Franco-Nevada by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock worth $49,702,000 after acquiring an additional 16,029 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Franco-Nevada by 113.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock valued at $601,000 after buying an additional 2,710 shares in the last quarter. Tri Ri Asset Management Corp bought a new stake in Franco-Nevada during the 3rd quarter worth approximately $3,433,000. Finally, Horizon Kinetics Asset Management LLC increased its holdings in shares of Franco-Nevada by 5.6% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 988,033 shares of the basic materials company’s stock worth $116,183,000 after purchasing an additional 52,199 shares during the period. 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.