HC Wainwright Forecasts Strong Price Appreciation for Franco-Nevada (NYSE:FNV) Stock

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective lifted by HC Wainwright from $165.00 to $180.00 in a research report sent to investors on Wednesday morning, MarketBeat reports. HC Wainwright currently has a buy rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the company. Scotiabank raised their price objective on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. UBS Group boosted their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Finally, Raymond James upped their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and an average target price of $155.50.

Franco-Nevada Stock Down 1.2 %

Shares of FNV opened at $155.36 on Wednesday. The company has a market capitalization of $29.92 billion, a price-to-earnings ratio of -49.16, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada has a 52-week low of $112.70 and a 52-week high of $159.38. The stock has a 50 day moving average price of $142.60 and a 200 day moving average price of $130.48.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter in the prior year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $0.38 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.98%. Franco-Nevada’s payout ratio is presently 53.15%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FNV. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada in the 4th quarter valued at approximately $47,000. Point72 DIFC Ltd acquired a new stake in shares of Franco-Nevada in the 3rd quarter valued at approximately $52,000. Physician Wealth Advisors Inc. acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at approximately $49,000. Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada in the third quarter valued at approximately $55,000. Finally, Harbour Investments Inc. grew its holdings in Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Company Profile

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.