Franco-Nevada Corporation (NYSE:FNV) Receives Consensus Rating of “Buy” from Brokerages
Shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) have received a consensus rating of “Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $78.89.
Several equities analysts recently commented on the company. Scotiabank upped their price objective on Franco-Nevada Corporation from $78.00 to $79.50 and gave the company a “sector perform” rating in a research note on Thursday. TD Securities upped their price objective on Franco-Nevada Corporation from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday. BidaskClub upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded Franco-Nevada Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $74.00 price objective (up previously from $68.00) on shares of Franco-Nevada Corporation in a research note on Tuesday, June 6th.
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Shares of Franco-Nevada Corporation (NYSE FNV) traded down 0.01% during trading on Friday, hitting $77.65. The stock had a trading volume of 740,758 shares. The company’s 50 day moving average price is $72.65 and its 200 day moving average price is $69.09. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of 99.55 and a beta of -0.03. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $80.00.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The business had revenue of $163.60 million for the quarter, compared to the consensus estimate of $164.62 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. Franco-Nevada Corporation’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts predict that Franco-Nevada Corporation will post $0.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. Franco-Nevada Corporation’s payout ratio is currently 119.48%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNV. US Bancorp DE boosted its position in Franco-Nevada Corporation by 2.9% in the first quarter. US Bancorp DE now owns 20,500 shares of the basic materials company’s stock valued at $1,343,000 after buying an additional 575 shares during the last quarter. Chase Investment Counsel Corp purchased a new position in Franco-Nevada Corporation during the first quarter valued at $265,000. Commerzbank Aktiengesellschaft FI boosted its position in Franco-Nevada Corporation by 334.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 36,413 shares of the basic materials company’s stock valued at $2,385,000 after buying an additional 28,041 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Franco-Nevada Corporation by 15.2% in the first quarter. Great West Life Assurance Co. Can now owns 1,389,027 shares of the basic materials company’s stock valued at $90,859,000 after buying an additional 183,038 shares during the last quarter. Finally, Geneva Advisors LLC boosted its position in Franco-Nevada Corporation by 11.0% in the first quarter. Geneva Advisors LLC now owns 16,270 shares of the basic materials company’s stock valued at $1,066,000 after buying an additional 1,615 shares during the last quarter. 63.49% of the stock is currently 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 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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