Franco-Nevada (NYSE:FNV) Sees Large Volume Increase

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) shares saw unusually-strong trading volume on Thursday . Approximately 30,702 shares traded hands during trading, a decline of 95% from the previous session’s volume of 614,651 shares.The stock last traded at $139.08 and had previously closed at $136.55.

A number of equities research analysts recently commented on FNV shares. Raymond James decreased their target price on Franco-Nevada from $172.00 to $164.00 and set an “outperform” rating for the company in a report on Wednesday. National Bank Financial lifted their price target on Franco-Nevada from C$200.00 to C$205.00 and gave the company a “sector perform” rating in a research report on Friday, July 16th. Barclays cut Franco-Nevada from an “equal weight” rating to an “underweight” rating and set a $107.00 price target for the company. in a research report on Thursday, July 8th. Canaccord Genuity cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Friday, July 16th. Finally, JPMorgan Chase & Co. cut Franco-Nevada from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Hold” and an average target price of $176.31.

The stock has a 50 day simple moving average of $141.63 and a two-hundred day simple moving average of $144.29. The company has a market cap of $26.60 billion, a price-to-earnings ratio of 39.01, a price-to-earnings-growth ratio of 10.04 and a beta of 0.58.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, August 11th. The basic materials company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.02. Franco-Nevada had a return on equity of 11.94% and a net margin of 54.62%. The business had revenue of $347.10 million for the quarter, compared to analyst estimates of $362.19 million. Equities analysts forecast that Franco-Nevada Co. will post 3.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th were issued a $0.30 dividend. The ex-dividend date was Wednesday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.86%. Franco-Nevada’s payout ratio is currently 44.28%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Franco-Nevada by 16.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,261,546 shares of the basic materials company’s stock valued at $1,343,572,000 after acquiring an additional 1,300,763 shares during the last quarter. Van ECK Associates Corp lifted its position in Franco-Nevada by 0.5% during the 2nd quarter. Van ECK Associates Corp now owns 9,028,483 shares of the basic materials company’s stock worth $1,309,763,000 after acquiring an additional 48,174 shares during the period. FIL Ltd lifted its position in Franco-Nevada by 25.6% during the 1st 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 during the period. Vanguard Group Inc. lifted its position in Franco-Nevada by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 5,929,326 shares of the basic materials company’s stock worth $860,166,000 after acquiring an additional 72,952 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Franco-Nevada by 20.7% during the 1st 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 during the period. Institutional investors and hedge funds own 68.15% of the company’s stock.

About Franco-Nevada (NYSE:FNV)

Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded on October 17, 2007 and is headquartered in Toronto, Canada.

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