BidaskClub downgraded shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) from a buy rating to a hold rating in a research report report published on Sunday, July 30th.
A number of other analysts have also commented on FNV. Zacks Investment Research upgraded Franco-Nevada Corporation from a hold rating to a buy rating and set a $83.00 price target on the stock in a report on Monday, July 24th. Credit Suisse Group set a $78.00 price target on Franco-Nevada Corporation and gave the company a buy rating in a report on Tuesday, July 18th. TD Securities restated a buy rating on shares of Franco-Nevada Corporation in a report on Wednesday, May 10th. Barclays PLC restated an equal weight rating and issued a $74.00 price target (up from $68.00) on shares of Franco-Nevada Corporation in a report on Tuesday, June 6th. Finally, ValuEngine upgraded Franco-Nevada Corporation from a sell rating to a hold rating in a report on Friday, June 2nd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $78.89.
Shares of Franco-Nevada Corporation (NYSE:FNV) traded down 0.01% during midday trading on Friday, hitting $77.65. The stock had a trading volume of 740,758 shares. The firm’s 50-day moving average price is $72.77 and its 200-day moving average price is $69.18. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $79.17. The firm has a market capitalization of $14.16 billion, a PE ratio of 99.55 and a beta of -0.03.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $163.60 million for the quarter, compared to analyst estimates of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. On average, equities analysts predict that Franco-Nevada Corporation will post $0.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, September 13th. Franco-Nevada Corporation’s dividend payout ratio is currently 119.48%.
A number of institutional investors have recently made changes to their positions in the company. Hexavest Inc. increased its position in shares of Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock worth $120,000 after buying an additional 559 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Franco-Nevada Corporation during the first quarter worth $201,000. Blair William & Co. IL acquired a new position in shares of Franco-Nevada Corporation during the second quarter worth $210,000. Schroder Investment Management Group acquired a new position in shares of Franco-Nevada Corporation during the first quarter worth $222,000. Finally, Gluskin Sheff & Assoc Inc. acquired a new position in shares of Franco-Nevada Corporation during the first quarter worth $225,000. 63.49% of the stock is currently owned by hedge funds and other institutional investors.
Franco-Nevada Corporation Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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