Franco-Nevada Corp. (FNV) Stock Rating Upgraded by Vetr Inc.
Franco-Nevada Corp. (NYSE:FNV) was upgraded by research analysts at Vetr from a “sell” rating to a “hold” rating in a note issued to investors on Monday. The firm presently has a $68.00 target price on the stock. Vetr‘s price target would suggest a potential upside of 7.17% from the stock’s current price.
A number of other research analysts also recently issued reports on FNV. Zacks Investment Research upgraded shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday, July 5th. Deutsche Bank AG reiterated a “sell” rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. HSBC reiterated a “buy” rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Barclays PLC boosted their target price on shares of Franco-Nevada Corp. from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, August 8th. Finally, Bank of America Corp. initiated coverage on shares of Franco-Nevada Corp. in a research report on Tuesday, August 9th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $69.31.
Shares of Franco-Nevada Corp. (NYSE:FNV) traded up 0.22% during mid-day trading on Monday, reaching $63.45. 781,682 shares of the company’s stock were exchanged. Franco-Nevada Corp. has a 52-week low of $41.47 and a 52-week high of $81.16. The company’s 50-day moving average price is $71.46 and its 200 day moving average price is $70.60. The company has a market cap of $11.30 billion, a PE ratio of 187.72 and a beta of 0.18.
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Franco-Nevada Corp. (NYSE:FNV) last released its earnings results on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ 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 had revenue of $150.90 million for the quarter, compared to the consensus estimate of $149.36 million. During the same quarter in the previous year, the company earned $0.15 EPS. Franco-Nevada Corp.’s quarterly revenue was up 37.9% compared to the same quarter last year. On average, equities research analysts predict that Franco-Nevada Corp. will post $0.90 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.88 annualized dividend and a yield of 1.39%. Franco-Nevada Corp.’s payout ratio is currently 275.00%.
Institutional investors have recently bought and sold shares of the stock. 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 valued at $100,000 after buying an additional 175 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Franco-Nevada Corp. by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,788 shares of the company’s stock valued at $211,000 after buying an additional 1,100 shares during the last quarter. Seven Eight Capital LLC bought a new position in Franco-Nevada Corp. during the second quarter valued at $221,000. Carnick & Kubik Group LLC bought a new position in Franco-Nevada Corp. during the second quarter valued at $230,000. Finally, Independence Advisors LLC bought a new position in Franco-Nevada Corp. during the third quarter valued at $231,000. Institutional investors own 64.49% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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