Franco Nevada Corp (FNV) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Franco Nevada Corp (TSE:FNV) (NYSE:FNV) have been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$115.21.
Several research firms have recently issued reports on FNV. CIBC increased their target price on Franco Nevada from C$110.00 to C$120.00 in a report on Tuesday, November 7th. TD Securities reduced their target price on Franco Nevada to C$124.00 and set a “buy” rating on the stock in a report on Friday, December 1st. Desjardins reissued a “sell” rating on shares of Franco Nevada in a report on Monday, December 11th. Canaccord Genuity increased their target price on Franco Nevada from C$118.00 to C$119.00 in a report on Friday, October 20th. Finally, Scotiabank increased their target price on Franco Nevada to C$108.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th.
In related news, insider Lloyd Hyunsoo Hong sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of C$96.81, for a total transaction of C$387,240.00. Also, Director David Harquail sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of C$99.33, for a total value of C$496,650.00. Over the last 90 days, insiders have sold 29,000 shares of company stock valued at $2,843,090.
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 dividend of $0.296 per share. This is an increase from Franco Nevada’s previous quarterly dividend of $0.23. This represents a $1.18 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Wednesday, December 6th. Franco Nevada’s dividend payout ratio is currently 90.00%.
About Franco Nevada
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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