Vetr lowered shares of Franco-Nevada Corp. (NYSE:FNV) from a buy rating to a hold rating in a research note issued to investors on Monday. They currently have $65.43 price target on the stock.
Other analysts have also issued reports about the company. Zacks Investment Research lowered Franco-Nevada Corp. from a buy rating to a hold rating in a report on Monday. TheStreet lowered Franco-Nevada Corp. from a buy rating to a hold rating in a report on Monday, September 12th. TD Securities reissued a hold rating and set a $77.00 target price on shares of Franco-Nevada Corp. in a report on Saturday, August 13th. HSBC reissued a buy rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. Finally, Deutsche Bank AG raised Franco-Nevada Corp. from a sell rating to a hold rating and raised their price objective for the company from $62.00 to $74.00 in a research note on Friday, September 9th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. Franco-Nevada Corp. presently has an average rating of Hold and an average price target of $69.11.
Shares of Franco-Nevada Corp. (NYSE:FNV) traded down 1.59% during midday trading on Monday, hitting $62.66. 240,689 shares of the stock traded hands. Franco-Nevada Corp. has a 1-year low of $41.47 and a 1-year high of $81.16. The stock has a 50 day moving average of $71.06 and a 200 day moving average of $70.73. The company has a market capitalization of $11.16 billion, a P/E ratio of 185.38 and a beta of 0.18.
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, topping the 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 return on equity of 3.02% and a net margin of 11.05%. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 EPS. Equities research analysts predict that Franco-Nevada Corp. will post $0.90 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.38%. Franco-Nevada Corp.’s payout ratio is currently 275.00%.
Large investors have recently modified their holdings of the company. Independence Advisors LLC acquired a new stake in shares of Franco-Nevada Corp. during the third quarter worth $231,000. Carnick & Kubik Group LLC acquired a new stake in shares of Franco-Nevada Corp. during the second quarter worth $230,000. IFP Advisors Inc increased its stake in shares of Franco-Nevada Corp. by 15.3% in the second quarter. IFP Advisors Inc now owns 1,317 shares of the company’s stock worth $100,000 after buying an additional 175 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of Franco-Nevada Corp. by 18.2% in the second quarter. Hillsdale Investment Management Inc. now owns 3,250 shares of the company’s stock worth $247,000 after buying an additional 500 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Franco-Nevada Corp. by 211.8% in the second quarter. Stifel Financial Corp now owns 60,195 shares of the company’s stock worth $4,578,000 after buying an additional 40,890 shares during the last quarter. Institutional investors and hedge funds own 64.49% of the company’s stock.
Franco-Nevada Corp. Company Profile
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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