Vetr downgraded shares of Franco-Nevada Corp. (NYSE:FNV) from a hold rating to a sell rating in a report released on Wednesday morning. The brokerage currently has $68.00 price target on the stock.
Several other analysts have also recently weighed in on the stock. TheStreet cut shares of Franco-Nevada Corp. from a buy rating to a hold rating in a research report on Monday, September 12th. Zacks Investment Research cut shares of Franco-Nevada Corp. from a buy rating to a hold rating in a research report on Tuesday, September 13th. Citigroup Inc. upgraded shares of Franco-Nevada Corp. to a hold rating and lowered their price objective for the company from $74.00 to $62.00 in a research report on Friday, September 9th. Deutsche Bank AG upgraded shares of Franco-Nevada Corp. from a sell rating to a hold rating and lifted their target price for the stock from $62.00 to $74.00 in a research report on Friday, September 9th. Finally, TD Securities reiterated a hold rating and issued a $77.00 target price on shares of Franco-Nevada Corp. in a research report on Saturday, August 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $71.57.
Franco-Nevada Corp. (NYSE:FNV) opened at 71.31 on Wednesday. Franco-Nevada Corp. has a 52-week low of $41.47 and a 52-week high of $81.16. The company has a market cap of $12.70 billion, a PE ratio of 210.98 and a beta of 0.18. The stock’s 50 day moving average is $74.30 and its 200-day moving average is $70.44.
Franco-Nevada Corp. (NYSE:FNV) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The firm had revenue of $150.90 million for the quarter, compared to analysts’ expectations of $149.36 million. Franco-Nevada Corp. had a net margin of 11.05% and a return on equity of 3.02%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. Equities research analysts predict that Franco-Nevada Corp. will post $0.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Tuesday, September 13th. Franco-Nevada Corp.’s payout ratio is 275.00%.
Several large investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of Franco-Nevada Corp. by 24.7% in the second quarter. Van ECK Associates Corp now owns 7,831,846 shares of the company’s stock worth $595,690,000 after buying an additional 1,550,588 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Franco-Nevada Corp. by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 7,092,405 shares of the company’s stock worth $539,121,000 after buying an additional 41,201 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Franco-Nevada Corp. by 11.2% in the second quarter. Vanguard Group Inc. now owns 3,648,583 shares of the company’s stock worth $277,511,000 after buying an additional 366,365 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Franco-Nevada Corp. by 15.9% in the first quarter. CIBC World Markets Inc. now owns 2,511,519 shares of the company’s stock worth $154,157,000 after buying an additional 344,423 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Franco-Nevada Corp. by 9.4% in the second quarter. Swiss National Bank now owns 1,923,500 shares of the company’s stock worth $145,548,000 after buying an additional 164,600 shares during the last quarter. 64.49% of the stock is currently owned by hedge funds and other institutional investors.
About Franco-Nevada Corp.
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
To view Vetr’s full report, visit Vetr’s official website.
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