Franco Nevada Corp (FNV) Given Consensus Recommendation of “Buy” by Brokerages
Franco Nevada Corp (NYSE:FNV) (TSE:FNV) has earned a consensus rating of “Buy” from the nineteen brokerages that are covering the company. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $76.71.
Several equities research analysts have recently weighed in on FNV shares. Barclays PLC reissued a “hold” rating and issued a $68.00 price target on shares of Franco Nevada Corp in a research note on Wednesday, April 5th. Zacks Investment Research raised Franco Nevada Corp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 21st. Deutsche Bank AG decreased their price target on Franco Nevada Corp from $66.00 to $65.00 and set a “hold” rating for the company in a research note on Tuesday, March 21st. Clarkson Capital reissued a “neutral” rating on shares of Franco Nevada Corp in a research note on Friday, March 10th. Finally, TD Securities reissued a “buy” rating on shares of Franco Nevada Corp in a research note on Wednesday, May 10th.
Shares of Franco Nevada Corp (NYSE:FNV) traded up 0.37% during mid-day trading on Friday, reaching $73.59. The company had a trading volume of 347,328 shares. The firm’s 50-day moving average price is $69.26 and its 200 day moving average price is $64.07. Franco Nevada Corp has a 52-week low of $53.31 and a 52-week high of $81.16. The company has a market cap of $13.30 billion, a price-to-earnings ratio of 96.70 and a beta of 0.08.
Franco Nevada Corp (NYSE:FNV) last issued its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $172.70 million during the quarter, compared to analysts’ expectations of $158.75 million. Franco Nevada Corp had a return on equity of 3.71% and a net margin of 16.54%. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Equities analysts expect that Franco Nevada Corp will post $0.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 15th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.92 annualized dividend and a yield of 1.25%. This is a boost from Franco Nevada Corp’s previous quarterly dividend of $0.22. Franco Nevada Corp’s dividend payout ratio (DPR) is currently 169.23%.
COPYRIGHT VIOLATION WARNING: This article was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/05/26/franco-nevada-corp-fnv-given-consensus-recommendation-of-buy-by-brokerages-3.html.
A number of large investors have recently added to or reduced their stakes in the company. Westpac Banking Corp boosted its stake in Franco Nevada Corp by 0.5% in the third quarter. Westpac Banking Corp now owns 1,341,809 shares of the basic materials company’s stock valued at $93,752,000 after buying an additional 6,348 shares in the last quarter. Veritas Investment Management UK Ltd boosted its stake in Franco Nevada Corp by 91.6% in the fourth quarter. Veritas Investment Management UK Ltd now owns 197,254 shares of the basic materials company’s stock valued at $15,836,000 after buying an additional 94,280 shares in the last quarter. Norges Bank acquired a new stake in Franco Nevada Corp during the fourth quarter valued at approximately $217,899,000. Renaissance Technologies LLC boosted its stake in Franco Nevada Corp by 214.7% in the fourth quarter. Renaissance Technologies LLC now owns 838,100 shares of the basic materials company’s stock valued at $50,074,000 after buying an additional 571,800 shares in the last quarter. Finally, Credit Agricole S A boosted its stake in Franco Nevada Corp by 63.1% in the fourth quarter. Credit Agricole S A now owns 243,113 shares of the basic materials company’s stock valued at $14,529,000 after buying an additional 94,050 shares in the last quarter. 65.32% of the stock is owned by institutional investors and hedge funds.
About Franco Nevada Corp
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
Receive News & Ratings for Franco Nevada Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada Corp and related companies with MarketBeat.com's FREE daily email newsletter.