Franco-Nevada (NYSE:FNV) Price Target Raised to $142.00 at Bank of America

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price hoisted by Bank of America from $141.00 to $142.00 in a report issued on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the basic materials company’s stock.

Several other research firms have also weighed in on FNV. HC Wainwright lifted their price objective on shares of Franco-Nevada from $175.00 to $185.00 and gave the company a buy rating in a research note on Monday, May 6th. TheStreet lowered shares of Franco-Nevada from a c+ rating to a d+ rating in a research note on Tuesday, March 5th. Raymond James lifted their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Scotiabank lifted their price objective on shares of Franco-Nevada from $140.00 to $141.00 and gave the company a sector perform rating in a research note on Thursday, May 23rd. Finally, Jefferies Financial Group lifted their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a hold rating in a research note on Monday, April 22nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $149.30.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $118.63 on Wednesday. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $149.06. The firm has a 50 day moving average price of $121.92 and a two-hundred day moving average price of $115.18. The firm has a market cap of $22.81 billion, a price-to-earnings ratio of -47.64, a PEG ratio of 26.58 and a beta of 0.77.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The firm had revenue of $256.80 million during the quarter, compared to analyst estimates of $250.50 million. During the same quarter last year, the business earned $0.79 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Franco-Nevada will post 3.19 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, June 13th. Franco-Nevada’s dividend payout ratio is -57.83%.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds have recently bought and sold shares of the company. Wahed Invest LLC boosted its holdings in Franco-Nevada by 39.1% during the 1st quarter. Wahed Invest LLC now owns 2,110 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 593 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Franco-Nevada by 68.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after acquiring an additional 1,117,523 shares during the last quarter. Adalta Capital Management LLC boosted its holdings in shares of Franco-Nevada by 28.2% in the 1st quarter. Adalta Capital Management LLC now owns 11,390 shares of the basic materials company’s stock worth $1,357,000 after buying an additional 2,505 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Franco-Nevada by 44.4% in the 1st quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company’s stock worth $7,576,000 after buying an additional 19,551 shares during the last quarter. Finally, Knoll Capital Management LLC purchased a new position in shares of Franco-Nevada in the 1st quarter worth about $2,979,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.