Franco-Nevada (NYSE:FNV) Given New $190.00 Price Target at Royal Bank of Canada

Franco-Nevada (NYSE:FNV - Free Report) TSE: FNV had its price target boosted by Royal Bank of Canada from $160.00 to $190.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the basic materials company's stock.

Several other research analysts have also recently commented on FNV. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Scotiabank raised their target price on Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. Raymond James set a $186.00 target price on Franco-Nevada and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. Finally, UBS Group increased their price objective on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.63.

Franco-Nevada Trading Down 2.5%

FNV stock traded down $4.51 during midday trading on Wednesday, hitting $172.56. The stock had a trading volume of 1,040,910 shares, compared to its average volume of 732,297. The firm has a market capitalization of $33.23 billion, a price-to-earnings ratio of -54.61, a P/E/G ratio of 9.78 and a beta of 0.45. Franco-Nevada has a 52 week low of $112.70 and a 52 week high of $181.27. The stock has a 50-day simple moving average of $164.63 and a 200 day simple moving average of $143.92.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada's quarterly revenue was up 43.5% compared to the same quarter last year. During the same period last year, the business earned $0.76 earnings per share. On average, equities analysts forecast that Franco-Nevada will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 annualized dividend and a yield of 0.88%. Franco-Nevada's dividend payout ratio is currently 47.50%.

Institutional Trading of Franco-Nevada

Hedge funds and other institutional investors have recently made changes to their positions in the business. CX Institutional bought a new position in shares of Franco-Nevada in the first quarter valued at about $30,000. Cullen Frost Bankers Inc. bought a new position in shares of Franco-Nevada in the first quarter valued at about $32,000. Nexus Investment Management ULC bought a new position in shares of Franco-Nevada in the first quarter valued at about $35,000. Golden State Wealth Management LLC raised its holdings in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after buying an additional 115 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after buying an additional 188 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.