Franco-Nevada (NYSE:FNV) Price Target Raised to $185.00 at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective raised by HC Wainwright from $175.00 to $185.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock. HC Wainwright also issued estimates for Franco-Nevada’s FY2024 earnings at $2.87 EPS and FY2025 earnings at $3.09 EPS.

A number of other research firms also recently weighed in on FNV. Bank of America reduced their price target on Franco-Nevada from $138.00 to $136.00 and set a buy rating for the company in a research report on Monday, March 18th. Jefferies Financial Group lifted their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a hold rating in a research report on Monday, April 22nd. Raymond James boosted their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an outperform rating in a research report on Thursday, April 11th. TheStreet cut Franco-Nevada from a c+ rating to a d+ rating in a research note on Tuesday, March 5th. Finally, Scotiabank boosted their target price 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, April 18th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $148.60.

Franco-Nevada Stock Performance

NYSE FNV opened at $127.38 on Monday. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $160.86. The stock has a market capitalization of $24.50 billion, a P/E ratio of -51.16, a price-to-earnings-growth ratio of 6.29 and a beta of 0.72. The stock has a fifty day moving average of $118.42 and a 200-day moving average of $114.91.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The business had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. During the same period last year, the company earned $0.79 EPS. The firm’s revenue was down 7.1% on a year-over-year basis. Equities research analysts forecast that Franco-Nevada will post 2.97 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.13%. Franco-Nevada’s dividend payout ratio (DPR) is -57.83%.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently bought and sold shares of FNV. FMR LLC raised its position in shares of Franco-Nevada by 1.3% in the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock worth $2,211,558,000 after purchasing an additional 208,392 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Franco-Nevada by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,008,095 shares of the basic materials company’s stock valued at $1,219,807,000 after purchasing an additional 566,539 shares during the last quarter. FIL Ltd increased its holdings in shares of Franco-Nevada by 7.8% in the 4th quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock worth $1,005,852,000 after purchasing an additional 659,324 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Franco-Nevada by 9.9% in the fourth quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock worth $972,707,000 after purchasing an additional 789,070 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Franco-Nevada by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company’s stock valued at $802,731,000 after purchasing an additional 139,826 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.