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

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) have received a consensus rating of “Hold” from the eleven ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $147.30.

Several research analysts have weighed in on the stock. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Scotiabank lowered their price target on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a report on Thursday, March 7th. Bank of America lowered their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. TD Securities lowered their price target on shares of Franco-Nevada from $135.00 to $125.00 and set a “hold” rating on the stock in a report on Thursday, November 30th. Finally, Jefferies Financial Group started coverage on shares of Franco-Nevada in a report on Thursday, February 29th. They issued a “hold” rating and a $117.00 price target on the stock.

Institutional Trading of Franco-Nevada

A number of institutional investors have recently modified their holdings of the stock. VisionPoint Advisory Group LLC acquired a new position in shares of Franco-Nevada during the 3rd quarter worth $30,000. Castleview Partners LLC acquired a new position in shares of Franco-Nevada during the 3rd quarter worth $33,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Franco-Nevada during the 4th quarter worth $34,000. State of Wyoming acquired a new position in shares of Franco-Nevada during the 4th quarter worth $38,000. Finally, Allworth Financial LP raised its holdings in shares of Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after buying an additional 345 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $119.19 on Friday. The firm’s 50-day moving average is $110.31 and its 200-day moving average is $118.26. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of -49.05, a PEG ratio of 6.42 and a beta of 0.70. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The company 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%. Sell-side analysts predict that Franco-Nevada will post 2.68 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio is presently -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.