Franco-Nevada Corp. (NYSE:FNV) was downgraded by equities research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report released on Thursday, The Fly reports.
A number of other research analysts have also recently issued reports on FNV. Vetr upgraded shares of Franco-Nevada Corp. from a “strong sell” rating to a “sell” rating and set a $62.44 price objective for the company in a report on Wednesday, June 22nd. Zacks Investment Research raised shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, July 5th. Deutsche Bank AG reissued a “sell” rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. HSBC reissued a “buy” rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Finally, Barclays PLC raised their price target on shares of Franco-Nevada Corp. from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. Franco-Nevada Corp. presently has an average rating of “Hold” and an average target price of $69.11.
Shares of Franco-Nevada Corp. (NYSE:FNV) opened at 63.61 on Thursday. The firm’s 50-day moving average is $70.25 and its 200 day moving average is $70.62. Franco-Nevada Corp. has a 12 month low of $41.47 and a 12 month high of $81.16. The company has a market capitalization of $11.33 billion, a PE ratio of 188.20 and a beta of 0.18.
Franco-Nevada Corp. (NYSE:FNV) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business earned $150.90 million during 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 period last year, the company posted $0.15 earnings per share. Equities research analysts predict that Franco-Nevada Corp. will post $0.90 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.38%. Franco-Nevada Corp.’s payout ratio is 275.00%.
Large investors have recently made changes to their positions in the company. 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. 1832 Asset Management L.P. raised its stake in Franco-Nevada Corp. by 147.9% in the first quarter. 1832 Asset Management L.P. now owns 1,840,010 shares of the company’s stock worth $188,953,000 after buying an additional 1,097,840 shares in the last quarter. Wellington Management Group LLP raised its stake in Franco-Nevada Corp. by 1,114.7% in the first quarter. Wellington Management Group LLP now owns 650,463 shares of the company’s stock worth $39,974,000 after buying an additional 596,914 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in Franco-Nevada Corp. by 10,136.3% in the first quarter. PCJ Investment Counsel Ltd. now owns 578,350 shares of the company’s stock worth $35,664,000 after buying an additional 572,700 shares in the last quarter. Finally, Prudential PLC raised its stake in Franco-Nevada Corp. by 45.5% in the first quarter. Prudential PLC now owns 1,806,912 shares of the company’s stock worth $110,908,000 after buying an additional 565,310 shares in the last quarter. Hedge funds and other institutional investors 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.
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