Desjardins Reaffirms “Sell” Rating for Franco-Nevada (FNV)
Desjardins reiterated their sell rating on shares of Franco-Nevada (TSE:FNV) (NYSE:FNV) in a research report sent to investors on Monday. Desjardins also issued estimates for Franco-Nevada’s Q4 2017 earnings at $0.37 EPS, FY2017 earnings at $1.41 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.42 EPS, Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.40 EPS, FY2019 earnings at $1.52 EPS, FY2020 earnings at $1.75 EPS and FY2021 earnings at $1.98 EPS.
Other research analysts have also issued research reports about the company. Bank of America boosted their price target on Franco-Nevada from C$107.00 to C$110.00 in a research report on Friday, September 8th. CIBC boosted their price target on Franco-Nevada from C$110.00 to C$120.00 in a research report on Tuesday, November 7th. Canaccord Genuity boosted their target price on Franco-Nevada from C$119.00 to C$121.00 in a report on Tuesday, November 7th. TD Securities boosted their target price on Franco-Nevada to C$123.50 and gave the stock a buy rating in a report on Tuesday, November 7th. Finally, Eight Capital reissued a neutral rating on shares of Franco-Nevada in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of C$109.06.
Shares of Franco-Nevada (FNV) opened at C$98.11 on Monday. Franco-Nevada has a 1 year low of C$71.44 and a 1 year high of C$110.18.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be paid a $0.296 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.23. This represents a $1.18 annualized dividend and a yield of 1.21%. Franco-Nevada’s payout ratio is 87.38%.
In other 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 transaction of C$387,240.00. Also, Director David Harquail sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of C$99.33, for a total value of C$496,650.00.
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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