Franco-Nevada Corp. (FNV) Upgraded by Vetr Inc. to “Hold”
Vetr upgraded shares of Franco-Nevada Corp. (NYSE:FNV) from a sell rating to a hold rating in a report released on Monday. The firm currently has $68.00 target price on the stock.
Other equities analysts have also issued reports about the company. TheStreet lowered Franco-Nevada Corp. from a buy rating to a hold rating in a research report on Monday, September 12th. TD Securities restated a hold rating and set a $77.00 target price on shares of Franco-Nevada Corp. in a research report on Saturday, August 13th. HSBC restated a buy rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Deutsche Bank AG upgraded Franco-Nevada Corp. from a sell rating to a hold rating and boosted their target price for the stock from $62.00 to $74.00 in a research report on Friday, September 9th. Finally, Barclays PLC boosted their target price on Franco-Nevada Corp. from $65.00 to $75.00 and gave the stock an equal weight rating in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. Franco-Nevada Corp. has a consensus rating of Hold and an average target price of $71.57.
Franco-Nevada Corp. (NYSE:FNV) traded down 4.05% during trading on Monday, reaching $66.11. The company had a trading volume of 364,917 shares. Franco-Nevada Corp. has a 52-week low of $41.47 and a 52-week high of $81.16. The company has a 50 day moving average price of $73.12 and a 200 day moving average price of $70.71. The company has a market capitalization of $11.77 billion, a PE ratio of 195.59 and a beta of 0.18.
Franco-Nevada Corp. (NYSE:FNV) last posted its earnings results on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The company earned $150.90 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 EPS. On average, equities analysts forecast that Franco-Nevada Corp. will post $0.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.28%. Franco-Nevada Corp.’s payout ratio is 275.00%.
Several hedge funds have recently added to or reduced their stakes in FNV. Virginia Retirement System bought a new stake in Franco-Nevada Corp. during the first quarter worth $2,201,000. NN Investment Partners Holdings N.V. bought a new stake in Franco-Nevada Corp. during the first quarter worth $1,648,000. Berkeley Capital Partners LLC bought a new stake in Franco-Nevada Corp. during the first quarter worth $236,000. Investec Asset Management LTD increased its stake in Franco-Nevada Corp. by 27.9% in the first quarter. Investec Asset Management LTD now owns 286,433 shares of the company’s stock worth $17,663,000 after buying an additional 62,473 shares during the last quarter. Finally, Aviva PLC increased its stake in Franco-Nevada Corp. by 9.9% in the first quarter. Aviva PLC now owns 110,270 shares of the company’s stock worth $6,780,000 after buying an additional 9,978 shares during the last quarter. Hedge funds and other institutional investors own 64.49% of the company’s stock.
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.
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