Franco Nevada Target of Unusually High Options Trading (FNV)
Franco Nevada Corp (NYSE:FNV) (TSE:FNV) saw unusually large options trading on Wednesday. Traders purchased 6,104 put options on the stock. This represents an increase of 1,024% compared to the typical volume of 543 put options.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC lifted its stake in Franco Nevada by 199.0% in the 2nd quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 1,001 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Franco Nevada by 453.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 1,575 shares in the last quarter. Gratus Capital LLC bought a new stake in Franco Nevada in the 3rd quarter valued at approximately $201,000. Blair William & Co. IL bought a new stake in Franco Nevada in the 2nd quarter valued at approximately $210,000. Finally, Wright Investors Service Inc. bought a new stake in Franco Nevada in the 3rd quarter valued at approximately $245,000. Institutional investors and hedge funds own 61.42% of the company’s stock.
Franco Nevada (FNV) opened at $78.70 on Friday. Franco Nevada has a 12-month low of $60.10 and a 12-month high of $86.06. The stock has a market capitalization of $14,590.00, a P/E ratio of 97.16, a P/E/G ratio of 17.05 and a beta of -0.14.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Thursday, December 7th were given a $0.23 dividend. The ex-dividend date was Wednesday, December 6th. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. Franco Nevada’s dividend payout ratio is presently 113.58%.
Several equities analysts have recently issued reports on FNV shares. Zacks Investment Research lowered Franco Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 19th. TD Securities set a $92.00 target price on Franco Nevada and gave the stock a “buy” rating in a research report on Thursday, October 19th. Desjardins restated a “sell” rating on shares of Franco Nevada in a research report on Monday, December 11th. Scotiabank boosted their target price on Franco Nevada from $82.50 to $85.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 7th. Finally, Canaccord Genuity restated a “buy” rating and set a $121.00 target price on shares of Franco Nevada in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $85.00.
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Franco Nevada 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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