Franco-Nevada (NYSE:FNV) Sets New 12-Month High - Time to Buy?

Shares of Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV hit a new 52-week high on Thursday . The company traded as high as $174.44 and last traded at $172.76, with a volume of 1476416 shares trading hands. The stock had previously closed at $169.24.

Analysts Set New Price Targets

FNV has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 2nd. Scotiabank raised their target price on shares of Franco-Nevada from $150.00 to $165.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. BMO Capital Markets started coverage on Franco-Nevada in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Raymond James increased their price target on Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $162.25.

Franco-Nevada Trading Down 0.1 %

The company's fifty day moving average is $151.59 and its two-hundred day moving average is $135.02. The stock has a market cap of $33.30 billion, a price-to-earnings ratio of -54.73, a P/E/G ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same quarter in the previous year, the business earned $0.90 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.88%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's payout ratio is 53.15%.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Franco-Nevada by 9.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,789 shares of the basic materials company's stock worth $2,173,000 after acquiring an additional 1,176 shares during the period. PFG Investments LLC grew its stake in Franco-Nevada by 2.8% during the 1st quarter. PFG Investments LLC now owns 6,943 shares of the basic materials company's stock worth $1,094,000 after purchasing an additional 189 shares in the last quarter. Covea Finance increased its holdings in Franco-Nevada by 182.4% during the 1st quarter. Covea Finance now owns 286,170 shares of the basic materials company's stock worth $45,096,000 after purchasing an additional 184,850 shares during the period. Blue Trust Inc. boosted its stake in shares of Franco-Nevada by 5,746.7% in the 1st quarter. Blue Trust Inc. now owns 877 shares of the basic materials company's stock valued at $138,000 after buying an additional 862 shares during the period. Finally, Autumn Glory Partners LLC purchased a new position in shares of Franco-Nevada in the 1st quarter valued at about $315,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

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.