A number of other research analysts have also issued reports on the stock. TD Securities cut their price target on shares of Franco Nevada from $82.00 to $79.00 and set a buy rating on the stock in a research note on Wednesday. Zacks Investment Research lowered shares of Franco Nevada from a hold rating to a strong sell rating in a research note on Thursday, October 11th. Barclays assumed coverage on shares of Franco Nevada in a research note on Wednesday, October 10th. They set an overweight rating and a $70.00 price target on the stock. Desjardins upgraded shares of Franco Nevada from a sell rating to a hold rating in a research note on Saturday, October 6th. Finally, Deutsche Bank set a $74.00 price target on shares of Franco Nevada and gave the company a hold rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $80.71.
Shares of NYSE FNV traded down $0.50 during trading hours on Wednesday, hitting $64.89. 768,275 shares of the stock were exchanged, compared to its average volume of 781,415. The firm has a market cap of $12.17 billion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 14.14 and a beta of -0.13. Franco Nevada has a 12 month low of $58.26 and a 12 month high of $86.06.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, November 5th. The basic materials company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $170.60 million during the quarter, compared to analyst estimates of $158.85 million. Franco Nevada had a net margin of 31.81% and a return on equity of 4.76%. Franco Nevada’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. Analysts anticipate that Franco Nevada will post 1.15 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.48%. Franco Nevada’s payout ratio is 88.89%.
Hedge funds have recently added to or reduced their stakes in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in shares of Franco Nevada by 13.7% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 543,547 shares of the basic materials company’s stock valued at $52,153,000 after acquiring an additional 65,500 shares during the last quarter. Millennium Management LLC boosted its holdings in Franco Nevada by 133.7% during the second quarter. Millennium Management LLC now owns 77,571 shares of the basic materials company’s stock worth $5,664,000 after buying an additional 44,385 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Franco Nevada by 12.6% during the second quarter. Renaissance Technologies LLC now owns 2,458,200 shares of the basic materials company’s stock worth $179,498,000 after buying an additional 274,300 shares in the last quarter. Investec Asset Management LTD purchased a new stake in Franco Nevada during the second quarter worth $17,440,000. Finally, Ashford Capital Management Inc. boosted its holdings in Franco Nevada by 6.2% during the second quarter. Ashford Capital Management Inc. now owns 118,825 shares of the basic materials company’s stock worth $8,677,000 after buying an additional 6,887 shares in the last quarter. 63.42% of the stock is currently owned by institutional investors and hedge funds.
Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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