Franco-Nevada Corp. Forecasted to Earn Q4 2016 Earnings of $0.30 Per Share (FNV)
Franco-Nevada Corp. (NYSE:FNV) – Stock analysts at National Bank Financial raised their Q4 2016 earnings per share estimates for Franco-Nevada Corp. in a report issued on Tuesday. National Bank Financial analyst S. Nagle now expects that the brokerage will post earnings of $0.30 per share for the quarter, up from their prior estimate of $0.25. National Bank Financial has a “Sector Perform” rating and a $95.00 price objective on the stock.
Several other research analysts have also weighed in on the stock. Bank of America Corp. initiated coverage on shares of Franco-Nevada Corp. in a research note on Tuesday, August 9th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, October 4th. Vetr raised shares of Franco-Nevada Corp. from a “sell” rating to a “hold” rating and set a $68.00 price objective for the company in a research note on Monday, October 3rd. TheStreet lowered shares of Franco-Nevada Corp. from a “buy” rating to a “hold” rating in a research note on Monday, September 12th. Finally, Deutsche Bank AG reissued a “sell” rating on shares of Franco-Nevada Corp. in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $76.87.
Shares of Franco-Nevada Corp. (NYSE:FNV) opened at 57.22 on Thursday. The stock has a market cap of $10.19 billion, a P/E ratio of 169.29 and a beta of 0.22. Franco-Nevada Corp. has a 52-week low of $41.47 and a 52-week high of $81.16. The firm’s 50-day moving average is $65.81 and its 200 day moving average is $70.55.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders of record on Thursday, December 8th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, December 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.54%. Franco-Nevada Corp.’s payout ratio is 169.23%.
Institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Franco-Nevada Corp. by 7.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 586,902 shares of the company’s stock worth $44,423,000 after buying an additional 43,087 shares during the last quarter. Wellington Management Group LLP raised its position 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 during the period. Shell Asset Management Co. raised its position in Franco-Nevada Corp. by 17.2% in the second quarter. Shell Asset Management Co. now owns 226,990 shares of the company’s stock worth $22,299,000 after buying an additional 33,391 shares during the period. Trexquant Investment LP purchased a new position in Franco-Nevada Corp. during the second quarter worth $1,926,000. Finally, Legal & General Group Plc raised its position in Franco-Nevada Corp. by 16.6% in the first quarter. Legal & General Group Plc now owns 837,261 shares of the company’s stock worth $51,631,000 after buying an additional 119,033 shares during the period. 64.52% of the stock is currently owned by institutional investors and hedge funds.
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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