Franco-Nevada (NYSE:FNV) Given New $286.00 Price Target at Scotiabank

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective increased by Scotiabank from $283.00 to $286.00 in a report issued on Monday morning,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Research upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Jefferies Financial Group restated a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research note on Sunday, December 7th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Finally, UBS Group restated a “buy” rating and issued a $310.00 price objective on shares of Franco-Nevada in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.25.

Franco-Nevada Stock Up 0.8%

FNV opened at $253.87 on Monday. The company has a market cap of $48.95 billion, a P/E ratio of 44.07, a price-to-earnings-growth ratio of 3.65 and a beta of 0.45. The firm’s 50-day moving average price is $251.58 and its 200-day moving average price is $220.27. Franco-Nevada has a 52-week low of $140.03 and a 52-week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.18. The company had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $542.02 million. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. Franco-Nevada’s revenue for the quarter was up 86.1% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. On average, research analysts anticipate that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a dividend of $0.44 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s payout ratio is presently 30.56%.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PFG Investments LLC lifted its holdings in shares of Franco-Nevada by 0.6% in the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after buying an additional 46 shares during the period. Composition Wealth LLC grew its holdings in Franco-Nevada by 0.8% during the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after acquiring an additional 49 shares during the period. Clark Capital Management Group Inc. grew its holdings in Franco-Nevada by 1.0% during the fourth quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock worth $1,048,000 after acquiring an additional 50 shares during the period. Syon Capital LLC raised its position in Franco-Nevada by 2.1% during the fourth quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 51 shares in the last quarter. Finally, Guardian Partners Inc. raised its position in Franco-Nevada by 3.2% during the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 52 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.