Franco-Nevada Corporation (FNV) Reaches New 1-Year High at $79.18
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $79.18 and last traded at $79.18, with a volume of 544,074 shares changing hands. The stock had previously closed at $78.30.
FNV has been the topic of several research reports. Scotiabank raised their price target on shares of Franco-Nevada Corporation from $45.00 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 11th. TD Securities restated a “buy” rating on shares of Franco-Nevada Corporation in a report on Wednesday, May 10th. ValuEngine upgraded shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Barclays PLC restated an “equal weight” rating and issued a $74.00 price target (up previously from $68.00) on shares of Franco-Nevada Corporation in a report on Tuesday, June 6th. Finally, BidaskClub lowered shares of Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $78.89.
The stock has a market capitalization of $14.41 billion, a P/E ratio of 101.31 and a beta of -0.03. The stock’s 50 day moving average is $72.99 and its 200 day moving average is $69.47.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The company had revenue of $163.60 million during the quarter, compared to analyst estimates of $164.62 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts forecast that Franco-Nevada Corporation will post $0.98 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.17%. Franco-Nevada Corporation’s dividend payout ratio (DPR) is presently 119.48%.
Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE boosted its stake in Franco-Nevada Corporation by 2.9% in the first quarter. US Bancorp DE now owns 20,500 shares of the basic materials company’s stock worth $1,343,000 after buying an additional 575 shares in the last quarter. Chase Investment Counsel Corp purchased a new stake in Franco-Nevada Corporation during the first quarter worth about $265,000. Commerzbank Aktiengesellschaft FI boosted its stake in Franco-Nevada Corporation by 334.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 36,413 shares of the basic materials company’s stock worth $2,385,000 after buying an additional 28,041 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Franco-Nevada Corporation by 15.2% in the first quarter. Great West Life Assurance Co. Can now owns 1,389,027 shares of the basic materials company’s stock worth $90,859,000 after buying an additional 183,038 shares in the last quarter. Finally, Geneva Advisors LLC boosted its stake in Franco-Nevada Corporation by 11.0% in the first quarter. Geneva Advisors LLC now owns 16,270 shares of the basic materials company’s stock worth $1,066,000 after buying an additional 1,615 shares in the last quarter. Institutional investors own 63.41% of the company’s stock.
About Franco-Nevada Corporation
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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