Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report released on Sunday.

FNV has been the subject of several other research reports. Zacks Investment Research upgraded shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Wednesday. TD Securities reiterated a “buy” rating on shares of Franco-Nevada Corporation in a research report on Wednesday, May 10th. Credit Suisse Group set a $79.00 price target on shares of Franco-Nevada Corporation and gave the company a “buy” rating in a research report on Saturday, March 25th. Barclays PLC reiterated an “equal weight” rating and issued a $74.00 price target (up previously from $68.00) on shares of Franco-Nevada Corporation in a research report on Tuesday, June 6th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $64.00 price target (down previously from $65.00) on shares of Franco-Nevada Corporation in a research report on Sunday, June 25th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $77.93.

Shares of Franco-Nevada Corporation (FNV) traded up 1.11% on Friday, reaching $71.27. 628,677 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $73.03 and a 200 day moving average of $66.58. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $81.16. The firm has a market capitalization of $12.88 billion, a P/E ratio of 93.65 and a beta of -0.03.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, May 9th. The basic materials company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $172.70 million during the quarter, compared to the consensus estimate of $158.75 million. Franco-Nevada Corporation had a net margin of 21.17% and a return on equity of 4.35%. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, equities research analysts predict that Franco-Nevada Corporation will post $0.98 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.23 per share. This is a positive change from Franco-Nevada Corporation’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Tuesday, June 13th. Franco-Nevada Corporation’s dividend payout ratio is presently 121.05%.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank raised its position in shares of Franco-Nevada Corporation by 3.8% in the fourth quarter. Comerica Bank now owns 11,188 shares of the basic materials company’s stock valued at $711,000 after buying an additional 412 shares during the last quarter. Envestnet Asset Management Inc. raised its position 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 valued at $199,000 after buying an additional 2,320 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Franco-Nevada Corporation by 5.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 697,482 shares of the basic materials company’s stock valued at $41,753,000 after buying an additional 39,026 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Franco-Nevada Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 56,503 shares of the basic materials company’s stock valued at $3,696,000 after buying an additional 650 shares during the last quarter. Finally, Addenda Capital Inc. raised its position in shares of Franco-Nevada Corporation by 94.5% in the first quarter. Addenda Capital Inc. now owns 339,245 shares of the basic materials company’s stock valued at $22,157,000 after buying an additional 164,785 shares during the last quarter. Institutional investors and hedge funds own 62.21% of the company’s stock.

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.

Analyst Recommendations for Franco-Nevada Corporation (NYSE:FNV)

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