Vetr Inc. Lowers Franco-Nevada Corp. (FNV) to Hold
Franco-Nevada Corp. (NYSE:FNV) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They currently have a $65.43 target price on the stock. Vetr‘s price target suggests a potential upside of 2.76% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, July 5th. TheStreet raised Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. HSBC reaffirmed a “buy” rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Bank of America Corp. started coverage on Franco-Nevada Corp. in a research report on Tuesday, August 9th. They set a “buy” rating on the stock. Finally, Barclays PLC increased their target price on 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 research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Franco-Nevada Corp. currently has an average rating of “Hold” and an average price target of $69.11.
Shares of Franco-Nevada Corp. (NYSE:FNV) traded up 0.35% during mid-day trading on Monday, hitting $63.67. The company had a trading volume of 276,969 shares. The company has a 50-day moving average price of $71.06 and a 200-day moving average price of $70.73. Franco-Nevada Corp. has a 1-year low of $41.47 and a 1-year high of $81.16. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 188.37 and a beta of 0.18.
Franco-Nevada Corp. (NYSE:FNV) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. Franco-Nevada Corp. had a return on equity of 3.02% and a net margin of 11.05%. The company had revenue of $150.90 million for the quarter, compared to analysts’ expectations of $149.36 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Franco-Nevada Corp.’s revenue was up 37.9% compared to the same quarter last year. On average, equities analysts anticipate that Franco-Nevada Corp. will post $0.90 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were paid a $0.22 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.38%. Franco-Nevada Corp.’s dividend payout ratio (DPR) is 275.00%.
A number of institutional investors have recently modified their holdings of the company. NN Investment Partners Holdings N.V. purchased a new position in shares of Franco-Nevada Corp. during the first quarter worth about $1,648,000. Investec Asset Management LTD raised its position 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. Aviva PLC raised its position 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. AMF Pensionsforsakring AB raised its position in Franco-Nevada Corp. by 12.3% in the first quarter. AMF Pensionsforsakring AB now owns 244,752 shares of the company’s stock worth $15,183,000 after buying an additional 26,889 shares during the last quarter. Finally, Credit Agricole S A raised its position in Franco-Nevada Corp. by 1.7% in the first quarter. Credit Agricole S A now owns 226,400 shares of the company’s stock worth $13,896,000 after buying an additional 3,800 shares during the last quarter. 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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