Franco-Nevada Corporation (FNV) Receives Hold Rating from Barclays PLC
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV)‘s stock had its “hold” rating reissued by investment analysts at Barclays PLC in a research report issued on Wednesday. They presently have a $65.00 price objective on the stock. Barclays PLC’s price target would indicate a potential upside of 5.21% from the stock’s current price.
FNV has been the topic of a number of other research reports. RBC Capital Markets reissued an “outperform” rating on shares of Franco-Nevada Corporation in a research note on Tuesday, November 8th. Desjardins restated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Franco-Nevada Corporation in a research report on Thursday, November 10th. TD Securities reiterated a “hold” rating and set a $77.00 target price on shares of Franco-Nevada Corporation in a report on Thursday, November 10th. Vetr upgraded shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $67.14 target price for the company in a report on Thursday, November 10th. Finally, Zacks Investment Research lowered shares of Franco-Nevada Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $75.58.
Franco-Nevada Corporation (NYSE:FNV) traded up 0.23% on Wednesday, hitting $61.92. The stock had a trading volume of 728,585 shares. Franco-Nevada Corporation has a 52 week low of $41.47 and a 52 week high of $81.16. The company has a 50-day moving average price of $58.34 and a 200-day moving average price of $67.94. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 111.17 and a beta of 0.17.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, December 22nd. Stockholders of record on Thursday, December 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 6th. This represents a $0.88 annualized dividend and a dividend yield of 1.42%. Franco-Nevada Corporation’s payout ratio is presently 169.23%.
Several large investors have recently made changes to their positions in the company. New Harbor Financial Group LLC raised its position in Franco-Nevada Corporation by 0.9% in the third quarter. New Harbor Financial Group LLC now owns 8,465 shares of the company’s stock valued at $591,000 after buying an additional 75 shares during the period. Comerica Bank raised its position in shares of Franco-Nevada Corporation by 1.1% in the second quarter. Comerica Bank now owns 10,904 shares of the company’s stock worth $865,000 after buying an additional 120 shares during the last quarter. IFP Advisors Inc raised its position in shares of Franco-Nevada Corporation 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. Hartford Investment Management Co. raised its position in shares of Franco-Nevada Corporation 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 raised its position in shares of Franco-Nevada Corporation 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. 63.01% of the stock is owned by hedge funds and other institutional investors.
Franco-Nevada Corporation 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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