Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) has been given a consensus rating of “Buy” by the nineteen brokerages that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $78.89.
Several research analysts have recently commented on FNV shares. BidaskClub downgraded Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Barclays PLC decreased their price objective on Franco-Nevada Corporation from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, July 13th. Zacks Investment Research upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Monday, July 24th. Scotiabank lifted their price objective on Franco-Nevada Corporation from $78.00 to $79.50 and gave the stock a “sector perform” rating in a report on Thursday. Finally, TD Securities raised their target price on Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday.
A number of hedge funds have recently bought and sold shares of FNV. Hexavest Inc. boosted its stake in Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after buying an additional 559 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Franco-Nevada Corporation by 224.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,353 shares of the basic materials company’s stock valued at $199,000 after buying an additional 2,320 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Franco-Nevada Corporation during the first quarter valued at $201,000. Blair William & Co. IL purchased a new stake in Franco-Nevada Corporation during the second quarter valued at $210,000. Finally, Schroder Investment Management Group purchased a new stake in Franco-Nevada Corporation during the first quarter valued at $222,000. 63.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Franco-Nevada Corporation (FNV) opened at 77.65 on Monday. The company has a market cap of $14.16 billion, a price-to-earnings ratio of 99.55 and a beta of -0.03. Franco-Nevada Corporation has a 12 month low of $53.31 and a 12 month high of $79.17. The company’s 50-day moving average price is $72.77 and its 200-day moving average price is $69.18.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $163.60 million for the quarter, compared to the consensus estimate of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. Analysts anticipate that Franco-Nevada Corporation will post $0.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.92 annualized dividend and a yield of 1.18%. Franco-Nevada Corporation’s payout ratio is 119.48%.
Franco-Nevada Corporation 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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