Analysts Set Franco-Nevada Corporation (NYSE:FNV) Price Target at $254.38

Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $254.3750.

FNV has been the subject of a number of research reports. Zacks Research cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Jefferies Financial Group reissued a “hold” rating and set a $228.00 price target on shares of Franco-Nevada in a report on Sunday, December 7th. HC Wainwright raised their price objective on Franco-Nevada from $210.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, Scotiabank lifted their price objective on Franco-Nevada from $225.00 to $283.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th.

Institutional Trading of Franco-Nevada

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Franco-Nevada by 112.3% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after buying an additional 64 shares during the period. Transamerica Financial Advisors LLC purchased a new position in shares of Franco-Nevada in the fourth quarter valued at about $25,000. Burkett Financial Services LLC bought a new position in shares of Franco-Nevada in the third quarter worth about $28,000. Private Trust Co. NA purchased a new stake in shares of Franco-Nevada during the fourth quarter worth about $29,000. Finally, MTM Investment Management LLC bought a new stake in Franco-Nevada during the 2nd quarter valued at approximately $32,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Up 2.1%

NYSE FNV opened at $260.36 on Friday. The company has a 50-day moving average price of $234.06 and a 200-day moving average price of $210.45. Franco-Nevada has a 52 week low of $137.05 and a 52 week high of $273.55. The firm has a market capitalization of $50.20 billion, a P/E ratio of 54.58, a PEG ratio of 1.29 and a beta of 0.47.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a $0.44 dividend. The ex-dividend date is Thursday, March 12th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is currently 31.87%.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.