Vetr Inc. Lowers Franco-Nevada Corp. (FNV) to Hold
Franco-Nevada Corp. (NYSE:FNV) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research note issued on Monday. They currently have a $65.43 price objective on the stock. Vetr‘s price target suggests a potential upside of 2.76% from the company’s current price.
Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, July 5th. TheStreet raised Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. HSBC reaffirmed a “buy” rating on shares of Franco-Nevada Corp. in a research note on Thursday, July 7th. Bank of America Corp. started coverage on Franco-Nevada Corp. in a research note on Tuesday, August 9th. They set a “buy” rating on the stock. Finally, Barclays PLC raised their price objective on Franco-Nevada Corp. from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. Franco-Nevada Corp. has an average rating of “Hold” and an average target price of $69.11.
Shares of Franco-Nevada Corp. (NYSE:FNV) traded up 0.35% on Monday, hitting $63.67. The stock had a trading volume of 276,969 shares. The firm has a 50 day moving average price of $71.06 and a 200 day moving average price of $70.73. Franco-Nevada Corp. has a one year low of $41.47 and a one year high of $81.16. The company has a market capitalization of $11.34 billion, a P/E ratio of 188.37 and a beta of 0.18.
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Franco-Nevada Corp. (NYSE:FNV) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. The company had revenue of $150.90 million for the quarter, compared to the consensus estimate of $149.36 million. Franco-Nevada Corp. had a return on equity of 3.02% and a net margin of 11.05%. The firm’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 EPS. On average, equities research analysts predict that Franco-Nevada Corp. will post $0.90 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, September 13th. Franco-Nevada Corp.’s payout ratio is 275.00%.
Several institutional investors have recently made changes to their positions in the stock. Comerica Bank boosted its position in shares of Franco-Nevada Corp. by 1.1% in the second quarter. Comerica Bank now owns 10,904 shares of the company’s stock valued at $865,000 after buying an additional 120 shares during the last quarter. IFP Advisors Inc boosted 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 during the last quarter. Creative Planning boosted its position in Franco-Nevada Corp. by 2.9% in the second quarter. Creative Planning now owns 6,432 shares of the company’s stock worth $489,000 after buying an additional 179 shares during the last quarter. Hartford Investment Management Co. boosted its position in Franco-Nevada Corp. by 5.7% in the second quarter. Hartford Investment Management Co. now owns 3,742 shares of the company’s stock worth $283,000 after buying an additional 202 shares during the last quarter. Finally, US Bancorp DE boosted its position in Franco-Nevada Corp. by 1.7% in the second quarter. US Bancorp DE now owns 19,925 shares of the company’s stock worth $1,515,000 after buying an additional 325 shares during the last quarter. 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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