Franco-Nevada Corp. (NYSE:FNV) Receives Average Recommendation of “Hold” from Analysts
Franco-Nevada Corp. (NYSE:FNV) has been assigned a consensus recommendation of “Hold” from the twenty-one brokerages that are presently covering the stock. Two equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $70.31.
Several brokerages have commented on FNV. Vetr cut shares of Franco-Nevada Corp. from a “hold” rating to a “sell” rating and set a $68.00 target price for the company. in a report on Wednesday. TheStreet upgraded shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Barclays PLC raised their target price on shares of Franco-Nevada Corp. from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, August 8th. Zacks Investment Research cut shares of Franco-Nevada Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Finally, Deutsche Bank AG upgraded shares of Franco-Nevada Corp. from a “sell” rating to a “hold” rating and raised their target price for the stock from $62.00 to $74.00 in a report on Friday, September 9th.
Several institutional investors have recently added to or reduced their stakes in the stock. Carnick & Kubik Group LLC purchased a new position in Franco-Nevada Corp. during the second quarter worth approximately $230,000. IFP Advisors Inc raised its position in Franco-Nevada Corp. by 15.3% in the second quarter. IFP Advisors Inc now owns 1,317 shares of the company’s stock worth $100,000 after buying an additional 175 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Franco-Nevada Corp. by 18.2% in the second quarter. Hillsdale Investment Management Inc. now owns 3,250 shares of the company’s stock worth $247,000 after buying an additional 500 shares in the last quarter. Stifel Financial Corp raised its position in Franco-Nevada Corp. by 211.8% in the second quarter. Stifel Financial Corp now owns 60,195 shares of the company’s stock worth $4,578,000 after buying an additional 40,890 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Franco-Nevada Corp. by 8.2% in the second quarter. Legal & General Group Plc now owns 905,524 shares of the company’s stock worth $68,497,000 after buying an additional 68,263 shares in the last quarter. 64.49% of the stock is currently owned by institutional investors.
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Franco-Nevada Corp. (NYSE:FNV) traded up 1.55% during midday trading on Wednesday, reaching $72.28. 200,790 shares of the company’s stock traded hands. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 213.85 and a beta of 0.18. The company’s 50-day moving average price is $74.89 and its 200 day moving average price is $70.01. Franco-Nevada Corp. has a 52 week low of $41.47 and a 52 week high of $81.16.
Franco-Nevada Corp. (NYSE:FNV) last announced its earnings results on Monday, August 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. Franco-Nevada Corp. had a net margin of 11.05% and a return on equity of 3.02%. The company earned $150.90 million during the quarter, compared to analysts’ expectations of $149.36 million. During the same period last year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, equities research analysts expect that Franco-Nevada Corp. will post $0.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, September 13th. Franco-Nevada Corp.’s dividend payout ratio is 275.00%.
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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