Franco-Nevada (NYSE:FNV) Price Target Increased to $140.00 by Analysts at Scotiabank

Franco-Nevada (NYSE:FNV - Free Report) TSE: FNV had its price target lifted by Scotiabank from $139.00 to $140.00 in a research note published on Thursday, Marketbeat Ratings reports. The firm currently has a sector perform rating on the basic materials company's stock.

A number of other equities analysts also recently commented on FNV. Bank of America cut their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a buy rating for the company in a research report on Monday, March 18th. Raymond James upped their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Jefferies Financial Group started coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They set a hold rating and a $117.00 price target on the stock. Finally, TheStreet cut shares of Franco-Nevada from a c+ rating to a d+ rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $147.40.

Franco-Nevada Stock Performance

Franco-Nevada stock traded up $1.18 during trading hours on Thursday, reaching $121.65. 636,610 shares of the stock were exchanged, compared to its average volume of 744,456. The stock has a market cap of $23.39 billion, a P/E ratio of -50.06, a P/E/G ratio of 6.42 and a beta of 0.71. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $161.25. The firm's 50 day moving average is $113.86 and its 200 day moving average is $116.23.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. The company had revenue of $303.30 million during the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. Equities research analysts expect that Franco-Nevada will post 2.76 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. Franco-Nevada's dividend payout ratio is presently -55.97%.

Institutional Investors Weigh In On Franco-Nevada

A number of large investors have recently added to or reduced their stakes in FNV. BlackRock Inc. boosted its stake in shares of Franco-Nevada by 3.3% during the 1st quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company's stock worth $61,693,000 after purchasing an additional 12,446 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Franco-Nevada by 10.2% during the 1st quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company's stock worth $318,000 after purchasing an additional 184 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Franco-Nevada by 23.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company's stock worth $11,035,000 after purchasing an additional 12,993 shares during the last quarter. Aviva PLC boosted its stake in shares of Franco-Nevada by 5.8% during the 1st quarter. Aviva PLC now owns 62,996 shares of the basic materials company's stock worth $10,040,000 after purchasing an additional 3,438 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Franco-Nevada by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company's stock worth $1,014,271,000 after purchasing an additional 141,139 shares during the last quarter. 77.06% of the stock is 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.