Franco Nevada Corp (FNV) Receives Average Rating of “Buy” from Analysts
Franco Nevada Corp (TSE:FNV) (NYSE:FNV) has been given a consensus recommendation of “Buy” by the twelve brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$98.86.
A number of brokerages recently weighed in on FNV. Scotiabank upped their price target on shares of Franco Nevada Corp to C$100.00 and gave the stock a “sector perform” rating in a research report on Friday. Bank of America Corporation upped their price target on shares of Franco Nevada Corp from C$107.00 to C$110.00 in a research report on Friday. CIBC upped their price target on shares of Franco Nevada Corp from C$105.00 to C$110.00 in a research report on Thursday, August 10th. Finally, Canaccord Genuity upped their price target on shares of Franco Nevada Corp from C$111.00 to C$114.00 in a research report on Wednesday, August 9th.
In other Franco Nevada Corp news, insider Kerry Elwyn Sparkes sold 643 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of C$103.36, for a total value of C$66,460.48. Also, insider Jason O’connell sold 5,753 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of C$98.17, for a total transaction of C$564,772.01. Over the last three months, insiders sold 71,396 shares of company stock valued at $7,118,882.
Shares of Franco Nevada Corp (FNV) traded up 0.50% during mid-day trading on Tuesday, hitting $100.72. The stock had a trading volume of 89,864 shares. The company’s 50 day moving average price is $97.24 and its 200 day moving average price is $93.35. The stock has a market cap of $18.68 billion and a P/E ratio of 127.01. Franco Nevada Corp has a 12-month low of $71.44 and a 12-month high of $104.00.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be given a $0.23 dividend. This is a boost from Franco Nevada Corp’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Wednesday, September 13th.
Franco Nevada Corp 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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