Franco-Nevada (NYSE:FNV) Price Target Raised to $286.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target upped by Scotiabank from $283.00 to $286.00 in a report issued on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the basic materials company’s stock.

Several other equities research analysts also recently weighed in on FNV. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Weiss Ratings cut Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 6th. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $225.00 to $250.00 in a research report on Wednesday, December 10th. Zacks Research raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Canaccord Genuity Group cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $257.25.

Franco-Nevada Price Performance

FNV stock opened at $243.05 on Monday. The stock has a market cap of $46.86 billion, a price-to-earnings ratio of 42.20, a P/E/G ratio of 3.70 and a beta of 0.45. The company has a 50 day simple moving average of $252.80 and a 200 day simple moving average of $220.89. Franco-Nevada has a 1 year low of $140.03 and a 1 year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.18. The firm had revenue of $597.30 million for the quarter, compared to analyst estimates of $542.02 million. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The company’s quarterly revenue was up 86.1% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. On average, equities research analysts anticipate that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a $0.44 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio is presently 30.56%.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 64 shares in the last quarter. Transamerica Financial Advisors LLC bought a new stake in Franco-Nevada in the 4th quarter valued at about $25,000. Burkett Financial Services LLC acquired a new position in Franco-Nevada during the 3rd quarter worth approximately $28,000. Private Trust Co. NA acquired a new position in Franco-Nevada during the 4th quarter worth approximately $29,000. Finally, Navalign LLC bought a new position in Franco-Nevada in the fourth quarter worth approximately $34,000. Institutional investors own 77.06% of the company’s stock.

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.