Franco Nevada (NYSE:FNV) Given a $81.00 Price Target at Deutsche Bank

Deutsche Bank set a $81.00 target price on Franco Nevada (NYSE:FNV) (TSE:FNV) in a report published on Thursday morning, Stock Target Advisor reports. The brokerage currently has a hold rating on the basic materials company’s stock.

FNV has been the topic of several other reports. TheStreet raised shares of Sensient Technologies from a c+ rating to a b- rating in a research note on Tuesday, June 18th. Barclays set a $192.00 price objective on shares of Tesla and gave the company a sell rating in a research note on Tuesday, April 9th. ValuEngine upgraded shares of Zumiez from a sell rating to a hold rating in a report on Saturday, June 22nd. Zacks Investment Research lowered shares of HyreCar from a hold rating to a sell rating in a report on Thursday, March 14th. Finally, Royal Bank of Canada cut their target price on shares of Analog Devices from $140.00 to $120.00 and set an outperform rating on the stock in a report on Wednesday, May 22nd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Franco Nevada presently has an average rating of Hold and a consensus price target of $84.79.

Shares of NYSE:FNV opened at $85.79 on Thursday. The firm’s fifty day moving average price is $80.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.14 and a current ratio of 4.14. Franco Nevada has a 12-month low of $58.26 and a 12-month high of $86.95. The firm has a market cap of $16.06 billion, a P/E ratio of 73.32, a P/E/G ratio of 16.01 and a beta of 0.07.

Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.07. The firm had revenue of $179.80 million during the quarter, compared to analyst estimates of $166.15 million. Franco Nevada had a net margin of 21.16% and a return on equity of 4.64%. Analysts expect that Franco Nevada will post 1.34 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, June 12th. Franco Nevada’s dividend payout ratio (DPR) is presently 85.47%.

Several large investors have recently modified their holdings of the stock. Addenda Capital Inc. raised its holdings in shares of Franco Nevada by 24.3% during the second quarter. Addenda Capital Inc. now owns 364,581 shares of the basic materials company’s stock worth $31,011,000 after acquiring an additional 71,160 shares during the period. Carroll Financial Associates Inc. raised its holdings in shares of Franco Nevada by 66.7% during the second quarter. Carroll Financial Associates Inc. now owns 1,422 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 569 shares during the period. First Trust Advisors LP acquired a new stake in shares of Franco Nevada during the first quarter worth $732,000. FMR LLC raised its holdings in shares of Franco Nevada by 10.1% during the first quarter. FMR LLC now owns 13,330,986 shares of the basic materials company’s stock worth $999,462,000 after acquiring an additional 1,222,750 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of Franco Nevada by 37.6% during the first quarter. Nordea Investment Management AB now owns 14,874 shares of the basic materials company’s stock worth $1,490,000 after acquiring an additional 4,064 shares during the period. Institutional investors and hedge funds own 65.07% of the company’s stock.

About Franco Nevada

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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