Raymond James Increases Franco-Nevada (NYSE:FNV) Price Target to $141.00

Franco-Nevada (NYSE:FNV - Free Report) TSE: FNV had its target price raised by Raymond James from $138.00 to $141.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the basic materials company's stock.

Several other research analysts have also recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Franco-Nevada in a report on Thursday, February 29th. They set a hold rating and a $117.00 price target for the company. Scotiabank lowered their price target on shares of Franco-Nevada from $141.00 to $139.00 and set a sector perform rating for the company in a report on Thursday, March 7th. TheStreet cut shares of Franco-Nevada from a c+ rating to a d+ rating in a report on Tuesday, March 5th. Finally, Bank of America lowered their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a buy rating for the company in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $147.30.

Franco-Nevada Price Performance

Shares of FNV stock traded down $0.24 during trading on Thursday, reaching $121.34. The company's stock had a trading volume of 525,771 shares, compared to its average volume of 737,584. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of -50.18, a P/E/G ratio of 6.77 and a beta of 0.71. The stock's 50-day moving average price is $112.50 and its 200 day moving average price is $116.74. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $161.25.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The company had revenue of $303.30 million during the quarter. On average, sell-side analysts anticipate that Franco-Nevada will post 2.68 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.36 dividend. This is an increase from Franco-Nevada's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.19%. Franco-Nevada's dividend payout ratio is -55.97%.

Institutional Trading of Franco-Nevada

Institutional investors and hedge funds have recently bought and sold shares of the business. Birch Capital Management LLC purchased a new position in Franco-Nevada during the 1st quarter worth $94,000. Gulf International Bank UK Ltd grew its stake in shares of Franco-Nevada by 6.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company's stock worth $205,000 after purchasing an additional 111 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Franco-Nevada by 37.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company's stock worth $52,000 after purchasing an additional 119 shares during the period. Trust Co. of Toledo NA OH grew its stake in shares of Franco-Nevada by 15.1% during the 1st quarter. Trust Co. of Toledo NA OH now owns 3,050 shares of the basic materials company's stock worth $363,000 after purchasing an additional 400 shares during the period. Finally, Confluence Investment Management LLC acquired a new position in shares of Franco-Nevada during the 1st quarter worth $538,000. Hedge funds and other 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.