Raymond James Analysts Give Franco Nevada (NYSE:FNV) a $108.00 Price Target

Raymond James set a $108.00 price objective on Franco Nevada (NYSE:FNV) (TSE:FNV) in a report released on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the basic materials company’s stock. Raymond James also issued estimates for Franco Nevada’s Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.70 EPS and FY2020 earnings at $1.94 EPS.

FNV has been the topic of several other reports. ValuEngine lowered shares of Franco Nevada from a buy rating to a hold rating in a research report on Thursday, August 1st. Canaccord Genuity reiterated a buy rating on shares of Franco Nevada in a research report on Friday, August 23rd. Barclays set a $89.00 price objective on shares of Franco Nevada and gave the stock a hold rating in a research report on Friday, July 19th. Deutsche Bank boosted their price objective on shares of Franco Nevada from $81.00 to $88.00 and gave the stock a hold rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Franco Nevada from $110.00 to $117.00 and gave the company a neutral rating in a report on Wednesday, August 14th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $104.32.

Shares of Franco Nevada stock traded up $0.14 on Wednesday, hitting $99.04. The company’s stock had a trading volume of 597,892 shares, compared to its average volume of 556,992. Franco Nevada has a 52-week low of $66.45 and a 52-week high of $101.19. The company has a quick ratio of 2.67, a current ratio of 6.37 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $94.61 and a 200-day moving average price of $87.62. The company has a market capitalization of $18.65 billion and a P/E ratio of 84.65.

Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, November 11th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.45 by $0.09. Franco Nevada had a net margin of 27.17% and a return on equity of 5.78%. The business had revenue of $235.70 million for the quarter, compared to analyst estimates of $223.73 million. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. As a group, analysts expect that Franco Nevada will post 1.71 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Franco Nevada’s dividend payout ratio (DPR) is 85.47%.

A number of large investors have recently added to or reduced their stakes in FNV. First Trust Advisors LP purchased a new position in Franco Nevada in the 1st quarter valued at about $732,000. Carroll Financial Associates Inc. increased its stake in shares of Franco Nevada by 66.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,422 shares of the basic materials company’s stock valued at $120,000 after acquiring an additional 569 shares during the last quarter. Addenda Capital Inc. increased its stake in shares of Franco Nevada by 24.3% during the 2nd quarter. Addenda Capital Inc. now owns 364,581 shares of the basic materials company’s stock valued at $31,011,000 after acquiring an additional 71,160 shares during the last quarter. Unigestion Holding SA increased its stake in shares of Franco Nevada by 86.9% during the 2nd quarter. Unigestion Holding SA now owns 521,628 shares of the basic materials company’s stock valued at $44,232,000 after acquiring an additional 242,570 shares during the last quarter. Finally, Davy Asset Management Ltd acquired a new position in shares of Franco Nevada during the 2nd quarter valued at about $1,882,000. Institutional investors own 63.58% of the company’s stock.

Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.

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Analyst Recommendations for Franco Nevada (NYSE:FNV)

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