Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at Raymond James cut their Q2 2021 earnings per share estimates for shares of Franco-Nevada in a report issued on Monday, July 19th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.93 per share for the quarter, down from their prior estimate of $0.97. Raymond James has a “Outperform” rating and a $172.00 price objective on the stock.
Other equities analysts have also issued research reports about the stock. BMO Capital Markets increased their target price on shares of Franco-Nevada from $193.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 20th. Stifel Nicolaus increased their target price on shares of Franco-Nevada from C$189.00 to C$195.00 and gave the stock a “hold” rating in a research report on Wednesday, July 14th. Barclays lowered shares of Franco-Nevada from an “equal weight” rating to an “underweight” rating and set a $107.00 target price for the company. in a research report on Thursday, July 8th. Royal Bank of Canada increased their target price on shares of Franco-Nevada from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Monday, April 26th. Finally, JPMorgan Chase & Co. downgraded shares of Franco-Nevada from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $174.92.
Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, May 5th. The basic materials company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.05. The company had revenue of $308.90 million during the quarter, compared to analyst estimates of $312.75 million. Franco-Nevada had a net margin of 54.79% and a return on equity of 10.64%.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 24th. Investors of record on Thursday, June 10th were paid a $0.30 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Wednesday, June 9th. Franco-Nevada’s dividend payout ratio (DPR) is currently 19.19%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of Franco-Nevada by 6.0% during the first quarter. Van ECK Associates Corp now owns 8,980,309 shares of the basic materials company’s stock worth $1,125,145,000 after acquiring an additional 504,500 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Franco-Nevada by 21.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,960,783 shares of the basic materials company’s stock worth $997,406,000 after acquiring an additional 1,383,808 shares in the last quarter. FIL Ltd raised its stake in shares of Franco-Nevada by 25.6% during the first quarter. FIL Ltd now owns 6,826,131 shares of the basic materials company’s stock worth $855,384,000 after acquiring an additional 1,389,449 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Franco-Nevada by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,401,881 shares of the basic materials company’s stock worth $676,884,000 after acquiring an additional 926,261 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Franco-Nevada by 1.2% during the first quarter. APG Asset Management N.V. now owns 2,077,125 shares of the basic materials company’s stock worth $221,450,000 after acquiring an additional 25,558 shares in the last quarter. 66.38% 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, Latin America, Canada, Australia, Europe, and Africa, and internationally. It operates through two segment, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.
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