Franco-Nevada (NYSE:FNV) Given a $190.00 Price Target by Raymond James Analysts

Raymond James set a $190.00 target price on Franco-Nevada (NYSE:FNVGet Rating) (TSE:FNV) in a research report report published on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the basic materials company’s stock. Raymond James also issued estimates for Franco-Nevada’s FY2023 earnings at $3.73 EPS.

A number of other equities analysts have also recently weighed in on FNV. HC Wainwright upped their price target on Franco-Nevada from $167.00 to $179.00 and gave the stock a buy rating in a report on Friday, March 11th. Canaccord Genuity Group cut Franco-Nevada from a buy rating to a hold rating in a report on Tuesday, April 5th. Canaccord Genuity Group cut Franco-Nevada from a buy rating to a hold rating in a report on Tuesday, April 5th. Barclays upped their price target on Franco-Nevada from $113.00 to $130.00 in a report on Thursday, April 21st. Finally, Stifel Nicolaus upped their price target on Franco-Nevada from C$200.00 to C$205.00 in a report on Friday, March 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of Hold and an average target price of $190.70.

Shares of FNV traded down $1.19 during mid-day trading on Friday, reaching $150.54. The company had a trading volume of 722,359 shares, compared to its average volume of 549,504. Franco-Nevada has a 52-week low of $124.95 and a 52-week high of $169.32. The stock has a market capitalization of $28.83 billion, a P/E ratio of 38.60, a PEG ratio of 10.67 and a beta of 0.65. The stock has a 50 day moving average of $158.52 and a two-hundred day moving average of $145.03.

Franco-Nevada (NYSE:FNVGet Rating) (TSE:FNV) last issued its earnings results on Wednesday, May 4th. The basic materials company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $338.80 million for the quarter, compared to the consensus estimate of $335.27 million. Franco-Nevada had a return on equity of 11.57% and a net margin of 56.44%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. Analysts anticipate that Franco-Nevada will post 3.66 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be issued a $0.32 dividend. The ex-dividend date is Wednesday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.85%. Franco-Nevada’s dividend payout ratio is presently 32.82%.

Several large investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Franco-Nevada by 1.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,308,734 shares of the basic materials company’s stock valued at $1,287,304,000 after purchasing an additional 109,294 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Franco-Nevada by 6.7% in the fourth quarter. Van ECK Associates Corp now owns 9,076,810 shares of the basic materials company’s stock valued at $1,255,237,000 after purchasing an additional 566,311 shares during the last quarter. Renaissance Technologies LLC grew its position in Franco-Nevada by 3.4% in the third quarter. Renaissance Technologies LLC now owns 4,518,490 shares of the basic materials company’s stock worth $587,011,000 after acquiring an additional 148,700 shares during the period. Troy Asset Management Ltd grew its position in Franco-Nevada by 0.5% in the first quarter. Troy Asset Management Ltd now owns 2,106,086 shares of the basic materials company’s stock worth $335,963,000 after acquiring an additional 10,925 shares during the period. Finally, CIBC Asset Management Inc grew its position in Franco-Nevada by 1.0% in the first quarter. CIBC Asset Management Inc now owns 1,958,750 shares of the basic materials company’s stock worth $312,051,000 after acquiring an additional 19,203 shares during the period. 75.52% of the stock is owned by hedge funds and other institutional investors.

About Franco-Nevada (Get Rating)

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates in two segments, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.

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