Franco-Nevada (NYSE:FNV) Price Target Raised to $140.00 at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective lifted by Scotiabank from $139.00 to $140.00 in a research report sent to investors on Thursday morning, MarketBeat.com reports. Scotiabank currently has a sector perform rating on the basic materials company’s stock.

Several other research analysts have also commented on the company. TheStreet lowered Franco-Nevada from a c+ rating to a d+ rating in a research report on Tuesday, March 5th. Raymond James lifted their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Bank of America cut their price target on Franco-Nevada from $138.00 to $136.00 and set a buy rating on the stock in a research report on Monday, March 18th. Finally, Jefferies Financial Group initiated coverage on Franco-Nevada in a research report on Thursday, February 29th. They set a hold rating and a $117.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $147.40.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $121.65 on Thursday. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $161.25. The stock’s 50-day simple moving average is $113.86 and its 200-day simple moving average is $116.23.

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 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 positive return on equity of 10.61% and a negative net margin of 38.26%. As a group, research analysts predict that Franco-Nevada will post 2.76 earnings per share 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 issued a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s payout ratio is presently -55.97%.

Institutional Trading of Franco-Nevada

Institutional investors have recently modified their holdings of the business. Sheets Smith Wealth Management purchased a new stake in shares of Franco-Nevada in the first quarter valued at approximately $238,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Franco-Nevada in the third quarter valued at approximately $30,000. Castleview Partners LLC purchased a new stake in shares of Franco-Nevada in the third quarter valued at approximately $33,000. State of Wyoming purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at approximately $38,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Franco-Nevada in the first quarter valued at approximately $47,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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.