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

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

Analyst Upgrades and Downgrades

FNV has been the topic of several recent analyst reports. HC Wainwright upped their price objective on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Royal Bank of Canada upped their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Scotiabank upped their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 11th. Raymond James raised their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Finally, TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Trading Up 1.4 %

The stock 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’s 50 day simple moving average is $136.67 and its 200 day simple moving average is $128.16.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.98%. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Hedge Funds Weigh In On Franco-Nevada

Large investors have recently bought and sold shares of the stock. Laurel Wealth Advisors LLC acquired a new position in shares of Franco-Nevada in the 4th quarter worth approximately $47,000. Physician Wealth Advisors Inc. acquired a new position in Franco-Nevada in the 4th quarter valued at approximately $49,000. Point72 DIFC Ltd acquired a new stake in shares of Franco-Nevada during the 3rd quarter valued at about $52,000. Harbour Investments Inc. lifted its holdings in shares of Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after buying an additional 93 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Franco-Nevada during the 3rd quarter valued at about $55,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

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.