Shares of Franco Nevada Corp (TSE:FNV) (NYSE:FNV) have been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$108.94.
A number of brokerages have recently commented on FNV. TD Securities dropped their target price on Franco Nevada to C$124.00 and set a “buy” rating for the company in a report on Friday, December 1st. Bank of America lifted their target price on Franco Nevada from C$107.00 to C$110.00 in a report on Friday, September 8th. Scotiabank lifted 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. National Bank Financial lifted their target price on Franco Nevada from C$100.00 to C$107.50 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th. Finally, CIBC lifted their target price on Franco Nevada from C$110.00 to C$120.00 in a report on Tuesday, November 7th.
In other Franco Nevada 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 value of C$387,240.00. Also, Director Pierre Lassonde sold 20,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of C$97.96, for a total value of C$1,959,200.00. In 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 will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be issued a dividend of $0.296 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.18 dividend on an annualized basis and a yield of 1.20%. This is a boost from Franco Nevada’s previous quarterly dividend of $0.23. Franco Nevada’s payout ratio is presently 87.38%.
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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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