Franco-Nevada (NYSE:FNV) Stock Price Expected to Rise, Scotiabank Analyst Says

Franco-Nevada (NYSE:FNV - Free Report) TSE: FNV had its price target raised by Scotiabank from $150.00 to $165.00 in a report released on Monday, MarketBeat reports. Scotiabank currently has a sector perform rating on the basic materials company's stock.

FNV has been the subject of a number of other research reports. StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Royal Bank of Canada boosted their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. HC Wainwright increased their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Finally, UBS Group boosted their price target on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $162.25.

Franco-Nevada Price Performance

NYSE FNV traded down $1.44 on Monday, hitting $171.14. The stock had a trading volume of 1,026,124 shares, compared to its average volume of 692,898. The business's fifty day moving average price is $150.39 and its 200 day moving average price is $134.23. The stock has a market cap of $32.95 billion, a price-to-earnings ratio of -54.16, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. Franco-Nevada has a 52-week low of $112.70 and a 52-week high of $174.44.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. The business had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. As a group, sell-side analysts anticipate that Franco-Nevada will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. Franco-Nevada's dividend payout ratio (DPR) is currently 53.15%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Franco-Nevada during the 4th quarter worth approximately $237,643,000. EdgePoint Investment Group Inc. lifted its holdings in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock worth $582,100,000 after acquiring an additional 1,650,358 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Franco-Nevada by 246.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after purchasing an additional 828,166 shares in the last quarter. Capital World Investors grew its position in Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after acquiring an additional 711,591 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in Franco-Nevada by 11,659.0% during the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock worth $56,762,000 after purchasing an additional 478,602 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

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.