Franco-Nevada Corporation’s (FNV) “Hold” Rating Reiterated at Deutsche Bank AG
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV)‘s stock had its “hold” rating reissued by investment analysts at Deutsche Bank AG in a research report issued to clients and investors on Sunday. They currently have a $64.00 price target on the basic materials company’s stock, down from their prior price target of $65.00. Deutsche Bank AG’s target price indicates a potential downside of 14.09% from the company’s current price.
FNV has been the subject of a number of other research reports. TD Securities reiterated a “buy” rating on shares of Franco-Nevada Corporation in a research report on Wednesday, May 10th. Barclays PLC reissued a “hold” rating and issued a $68.00 price objective on shares of Franco-Nevada Corporation in a research note on Wednesday, April 5th. Clarkson Capital reissued a “neutral” rating on shares of Franco-Nevada Corporation in a research note on Friday, March 10th. BidaskClub downgraded Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, Credit Suisse Group set a $80.00 price objective on Franco-Nevada Corporation and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $77.47.
Franco-Nevada Corporation (NYSE FNV) traded up 1.24% on Friday, reaching $74.50. The company’s stock had a trading volume of 497,426 shares. The firm has a 50-day moving average price of $71.73 and a 200 day moving average price of $65.88. Franco-Nevada Corporation has a 52-week low of $53.31 and a 52-week high of $81.16. The firm has a market capitalization of $13.46 billion, a P/E ratio of 97.90 and a beta of 0.01.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. Franco-Nevada Corporation had a return on equity of 4.35% and a net margin of 21.17%. The company had revenue of $172.70 million during the quarter, compared to analyst estimates of $158.75 million. During the same quarter in the previous year, the firm posted $0.17 EPS. Equities analysts anticipate that Franco-Nevada Corporation will post $0.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, June 13th. This is a positive change from Franco-Nevada Corporation’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. Franco-Nevada Corporation’s payout ratio is 121.05%.
Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of Franco-Nevada Corporation by 224.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,353 shares of the basic materials company’s stock worth $199,000 after buying an additional 2,320 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of Franco-Nevada Corporation during the first quarter worth about $201,000. Schroder Investment Management Group bought a new stake in shares of Franco-Nevada Corporation during the first quarter worth about $222,000. Gluskin Sheff & Assoc Inc. bought a new stake in shares of Franco-Nevada Corporation during the first quarter worth about $225,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Franco-Nevada Corporation by 40.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,617 shares of the basic materials company’s stock worth $236,000 after buying an additional 1,039 shares during the period. 62.38% of the stock is currently owned by institutional investors.
About Franco-Nevada Corporation
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.
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