Franco-Nevada Corp. (FNV) Trading Up 4.9%
Franco-Nevada Corp. (NYSE:FNV) shares were up 4.9% on Wednesday . The stock traded as high as $74.82 and last traded at $74.64, with a volume of 840,461 shares. The stock had previously closed at $71.18.
Several research analysts have weighed in on FNV shares. Zacks Investment Research upgraded shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, July 5th. HSBC restated a “buy” rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. TheStreet upgraded shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Bank of America Corp. started coverage on shares of Franco-Nevada Corp. in a report on Tuesday, August 9th. They set a “buy” rating on the stock. Finally, Barclays PLC upped their price objective 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. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $71.57.
The firm has a 50-day moving average price of $74.77 and a 200 day moving average price of $70.05. The firm has a market capitalization of $13.29 billion, a PE ratio of 220.83 and a beta of 0.18.
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Franco-Nevada Corp. (NYSE:FNV) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The business earned $150.90 million during the quarter, compared to analyst estimates of $149.36 million. Franco-Nevada Corp. had a return on equity of 3.02% and a net margin of 11.05%. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. Equities research analysts expect that Franco-Nevada Corp. will post $0.88 EPS for the current fiscal year.
The business 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 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Tuesday, September 13th. Franco-Nevada Corp.’s dividend payout ratio is presently 275.00%.
Institutional investors have recently bought and sold shares of the company. Capstone Asset Management Co. bought a new position in Franco-Nevada Corp. during the first quarter valued at about $1,895,000. Acadian Asset Management LLC bought a new position in Franco-Nevada Corp. during the first quarter valued at about $1,936,000. Quantitative Systematic Strategies LLC bought a new position in Franco-Nevada Corp. during the first quarter valued at about $396,000. Virginia Retirement System bought a new position in Franco-Nevada Corp. during the first quarter valued at about $2,201,000. Finally, Addenda Capital Inc. bought a new position in Franco-Nevada Corp. during the first quarter valued at about $3,838,000. 64.49% of the stock is owned by hedge funds and other institutional investors.
About Franco-Nevada Corp.
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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