Franco-Nevada Corp. (FNV) Lowered to “Sell” at Vetr Inc.
Franco-Nevada Corp. (NYSE:FNV) was downgraded by Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday. They presently have a $68.00 target price on the stock. Vetr‘s target price points to a potential downside of 4.47% from the stock’s current price.
A number of other research firms have also recently weighed in on FNV. Zacks Investment Research upgraded Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, July 5th. TD Securities restated a “hold” rating and issued a $77.00 price target on shares of Franco-Nevada Corp. in a report on Saturday, August 13th. TheStreet upgraded Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Citigroup Inc. upgraded Franco-Nevada Corp. to a “hold” rating and decreased their price target for the stock from $74.00 to $62.00 in a report on Friday, September 9th. Finally, BMO Capital Markets set a $108.00 price target on Franco-Nevada Corp. and gave the stock a “hold” rating in a report on Monday, August 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $71.57.
Franco-Nevada Corp. (NYSE:FNV) opened at 71.18 on Wednesday. Franco-Nevada Corp. has a 52 week low of $41.47 and a 52 week high of $81.16. The firm has a 50-day moving average of $74.89 and a 200 day moving average of $70.01. The firm has a market capitalization of $12.68 billion, a PE ratio of 210.59 and a beta of 0.18.
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Franco-Nevada Corp. (NYSE:FNV) last released its quarterly earnings results on Monday, August 8th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. The firm earned $150.90 million during the quarter, compared to analysts’ expectations of $149.36 million. Franco-Nevada Corp. had a return on equity of 3.02% and a net margin of 11.05%. Franco-Nevada Corp.’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. Analysts predict that Franco-Nevada Corp. will post $0.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.24%. The ex-dividend date is Tuesday, September 13th. Franco-Nevada Corp.’s dividend payout ratio is presently 275.00%.
A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Franco-Nevada Corp. by 1,114.7% in the first quarter. Wellington Management Group LLP now owns 650,463 shares of the company’s stock valued at $39,974,000 after buying an additional 596,914 shares in the last quarter. Shell Asset Management Co. raised its position in shares of Franco-Nevada Corp. by 17.2% in the second quarter. Shell Asset Management Co. now owns 226,990 shares of the company’s stock worth $22,299,000 after buying an additional 33,391 shares during the period. Legal & General Group Plc raised its position in shares of Franco-Nevada Corp. by 16.6% in the first quarter. Legal & General Group Plc now owns 837,261 shares of the company’s stock worth $51,631,000 after buying an additional 119,033 shares during the period. Prudential PLC raised its position in shares of Franco-Nevada Corp. by 45.5% in the first quarter. Prudential PLC now owns 1,806,912 shares of the company’s stock worth $110,908,000 after buying an additional 565,310 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Franco-Nevada Corp. by 75.4% in the first quarter. Renaissance Technologies LLC now owns 804,800 shares of the company’s stock worth $49,399,000 after buying an additional 345,900 shares during the period. 65.83% of the stock is currently owned by hedge funds and other institutional investors.
Franco-Nevada Corp. Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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