Franco-Nevada (NYSE:FNV) Given New $129.00 Price Target at Jefferies Financial Group

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its target price lifted by Jefferies Financial Group from $117.00 to $129.00 in a report released on Monday morning, BayStreet.CA reports. Jefferies Financial Group currently has a hold rating on the basic materials company’s stock.

A number of other equities research analysts have also weighed in on the company. TheStreet lowered Franco-Nevada from a c+ rating to a d+ rating in a research report on Tuesday, March 5th. Raymond James lifted their price target on Franco-Nevada from $138.00 to $141.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Scotiabank lifted their price target on Franco-Nevada from $139.00 to $140.00 and gave the company a sector perform rating in a research report on Thursday, April 18th. Finally, Bank of America dropped their price target on Franco-Nevada from $138.00 to $136.00 and set a buy rating on the stock in a research report on Monday, March 18th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $148.60.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $118.17 on Monday. The firm has a market cap of $22.73 billion, a P/E ratio of -48.63, a P/E/G ratio of 6.66 and a beta of 0.71. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $161.25. The business’s 50 day moving average price is $114.30 and its 200-day moving average price is $115.90.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $303.30 million for the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. As a group, equities analysts predict that Franco-Nevada will post 2.76 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.22%. Franco-Nevada’s payout ratio is presently -55.97%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC purchased a new position in shares of Franco-Nevada in the third quarter worth $30,000. Castleview Partners LLC purchased a new position in shares of Franco-Nevada in the third quarter worth $33,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Franco-Nevada in the fourth quarter worth $34,000. FinTrust Capital Advisors LLC raised its stake in shares of Franco-Nevada by 209.0% in the third quarter. FinTrust Capital Advisors LLC now owns 309 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 209 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 345 shares during 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.