Franco-Nevada (NYSE:FNV) Sets New 52-Week High – Still a Buy?

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) hit a new 52-week high during trading on Monday . The stock traded as high as $155.00 and last traded at $154.46, with a volume of 1095 shares traded. The stock had previously closed at $153.35.

Analysts Set New Price Targets

FNV has been the topic of several recent analyst reports. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Raymond James lifted their price target on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. HC Wainwright boosted their price objective on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, 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 report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Stock Up 1.4 %

The firm has a market capitalization of $29.94 billion, a P/E ratio of -48.77, a P/E/G ratio of 9.78 and a beta of 0.73. The stock has a fifty day moving average of $136.67 and a 200-day moving average of $128.16.

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

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.38 per share. 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. This represents a $1.52 annualized dividend and a yield of 0.98%. Franco-Nevada’s dividend payout ratio is 53.15%.

Institutional Trading of Franco-Nevada

A number of hedge funds have recently made changes to their positions in FNV. Huntington National Bank lifted its position in shares of Franco-Nevada by 7.4% in the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after buying an additional 102 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Franco-Nevada by 6.5% in the third quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company’s stock valued at $2,535,000 after buying an additional 1,237 shares during the last quarter. Swiss National Bank lifted its position in shares of Franco-Nevada by 0.8% in the third quarter. Swiss National Bank now owns 581,560 shares of the basic materials company’s stock valued at $72,347,000 after buying an additional 4,900 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Franco-Nevada by 11.9% in the third quarter. Drive Wealth Management LLC now owns 3,355 shares of the basic materials company’s stock valued at $417,000 after buying an additional 356 shares during the last quarter. Finally, Beddow Capital Management Inc. lifted its position in shares of Franco-Nevada by 1.4% in the third quarter. Beddow Capital Management Inc. now owns 57,882 shares of the basic materials company’s stock valued at $7,192,000 after buying an additional 790 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

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.