Franco-Nevada (NYSE:FNV) Given New $170.00 Price Target at UBS Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price hoisted by UBS Group from $165.00 to $170.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Several other equities analysts have also issued reports on the company. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday. HC Wainwright raised their price objective on Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Royal Bank of Canada raised their price objective on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.63.

Franco-Nevada Price Performance

NYSE:FNV opened at $145.56 on Tuesday. The firm has a market capitalization of $28.03 billion, a PE ratio of -46.06, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. The business’s fifty day moving average price is $134.87 and its 200 day moving average price is $127.60. Franco-Nevada has a 12 month low of $111.98 and a 12 month high of $148.02.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The company had revenue of $321.00 million for 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 business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. As a group, equities analysts anticipate that Franco-Nevada will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently 53.15%.

Institutional Investors Weigh In On Franco-Nevada

Hedge funds have recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in Franco-Nevada in the fourth quarter valued at about $47,000. Physician Wealth Advisors Inc. acquired a new stake in Franco-Nevada in the fourth quarter valued at about $49,000. Point72 DIFC Ltd acquired a new stake in Franco-Nevada in the third quarter valued at about $52,000. Harbour Investments Inc. lifted its position in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in Franco-Nevada in the third quarter valued at about $55,000. Institutional investors and hedge funds 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.