Franco-Nevada Co. (NYSE:FNV) Receives $147.30 Average Price Target from Brokerages

Shares of Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV have been assigned an average rating of "Hold" from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $147.30.

Several research firms have recently issued reports on FNV. Scotiabank decreased their price objective on Franco-Nevada from $141.00 to $139.00 and set a "sector perform" rating on the stock in a report on Thursday, March 7th. Bank of America cut their target price on 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 increased their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. Jefferies Financial Group started coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They issued a "hold" rating and a $117.00 price target on the stock. Finally, TheStreet lowered shares of Franco-Nevada from a "c+" rating to a "d+" rating in a report on Tuesday, March 5th.

Franco-Nevada Stock Performance

Franco-Nevada stock traded up $0.67 during midday trading on Tuesday, hitting $117.08. 594,257 shares of the company were exchanged, compared to its average volume of 743,245. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $161.25. The business has a fifty day simple moving average of $113.35 and a two-hundred day simple moving average of $116.17. The firm has a market capitalization of $22.50 billion, a PE ratio of -48.18, a price-to-earnings-growth ratio of 6.49 and a beta of 0.71.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The business had revenue of $303.30 million during the quarter. As a group, equities analysts expect that Franco-Nevada will post 2.75 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.36 dividend. This is an increase from Franco-Nevada's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, March 13th. Franco-Nevada's payout ratio is presently -55.97%.

Institutional Investors Weigh In On Franco-Nevada

A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Franco-Nevada by 3.3% in the 1st quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company's stock worth $61,693,000 after acquiring an additional 12,446 shares during the last quarter. Raymond James Trust N.A. raised its position in Franco-Nevada by 10.2% in the 1st quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company's stock valued at $318,000 after purchasing an additional 184 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 acquiring an additional 12,993 shares in the last quarter. Aviva PLC raised its position 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 acquiring an additional 3,438 shares in the last quarter. Finally, Vanguard Group Inc. raised its position 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 acquiring an additional 141,139 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

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.