Franco-Nevada (NYSE:FNV) Given New $210.00 Price Target at HC Wainwright

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price target hoisted by HC Wainwright from $200.00 to $210.00 in a research note issued to investors on Tuesday, Marketbeat reports. HC Wainwright currently has a buy rating on the basic materials company’s stock.

A number of other brokerages have also recently weighed in on FNV. TD Securities increased their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Raymond James Financial increased their price target on Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. UBS Group increased their price target on Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, CIBC reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus price target of $217.57.

Franco-Nevada Trading Down 1.5%

Shares of Franco-Nevada stock opened at $185.08 on Tuesday. The business’s 50 day simple moving average is $201.73 and its 200-day simple moving average is $179.37. The stock has a market capitalization of $35.68 billion, a price-to-earnings ratio of 45.47, a PEG ratio of 1.70 and a beta of 0.42. Franco-Nevada has a twelve month low of $112.70 and a twelve month high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The business had revenue of $487.70 million for the quarter, compared to analysts’ expectations of $448.51 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The business’s quarterly revenue was up 76.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. Sell-side analysts predict that Franco-Nevada will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s dividend payout ratio (DPR) is currently 37.35%.

Institutional Trading of Franco-Nevada

Large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in Franco-Nevada by 36.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company’s stock valued at $9,200,000 after acquiring an additional 15,483 shares during the period. FORA Capital LLC increased its position in shares of Franco-Nevada by 169.8% during the 1st quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company’s stock valued at $842,000 after purchasing an additional 3,362 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Franco-Nevada during the 1st quarter valued at $265,000. Jump Financial LLC acquired a new position in shares of Franco-Nevada during the 1st quarter valued at $274,000. Finally, Principal Financial Group Inc. increased its position in shares of Franco-Nevada by 34.4% during the 1st quarter. Principal Financial Group Inc. now owns 10,710 shares of the basic materials company’s stock valued at $1,684,000 after purchasing an additional 2,739 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.