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

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) saw unusually-high trading volume on Tuesday . Approximately 1,359,454 shares were traded during trading, an increase of 108% from the previous session’s volume of 653,638 shares.The stock last traded at $120.15 and had previously closed at $120.43.

Analysts Set New Price Targets

Several research firms have commented on FNV. HC Wainwright restated a “buy” rating and issued a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group boosted their price objective on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Bank of America lifted their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $152.75.

Franco-Nevada Trading Up 0.9 %

The stock has a market capitalization of $23.38 billion, a price-to-earnings ratio of -48.35, a price-to-earnings-growth ratio of 20.00 and a beta of 0.76. The company’s 50 day moving average is $123.39 and its 200 day moving average is $120.51.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $260.10 million for the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The firm’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. Analysts anticipate that Franco-Nevada Co. will post 3.2 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, September 12th. Franco-Nevada’s payout ratio is currently -57.83%.

Hedge Funds Weigh In On Franco-Nevada

A number of institutional investors have recently modified their holdings of FNV. Mechanics Financial Corp boosted its stake in Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares during the period. Mather Group LLC. acquired a new stake in shares of Franco-Nevada during the second quarter worth about $33,000. Kings Path Partners LLC acquired a new stake in shares of Franco-Nevada during the second quarter worth about $36,000. Fortis Group Advisors LLC grew its holdings in shares of Franco-Nevada by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after buying an additional 176 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.