Franco-Nevada (NYSE:FNV) Price Target Raised to $155.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective lifted by Royal Bank of Canada from $145.00 to $155.00 in a research report released on Tuesday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the basic materials company’s stock.

Several other research analysts also recently weighed in on the stock. UBS Group started coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price target for the company. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Scotiabank dropped their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus target price of $146.71.

Franco-Nevada Stock Up 1.1 %

FNV opened at $144.00 on Tuesday. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $144.27. The company has a 50-day moving average price of $126.81 and a 200 day moving average price of $125.23. The company has a market cap of $27.73 billion, a PE ratio of -45.57, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently -48.10%.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently modified their holdings of FNV. Norges Bank acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at $237,643,000. Arrowstreet Capital Limited Partnership raised its stake in Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock worth $136,796,000 after acquiring an additional 828,166 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Franco-Nevada by 76.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock worth $159,530,000 after acquiring an additional 556,894 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Franco-Nevada by 11,659.0% during the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock worth $56,762,000 after acquiring an additional 478,602 shares in the last quarter. 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.