Franco-Nevada Corp. (FNV) Sees Large Volume Increase
Franco-Nevada Corp. (NYSE:FNV) shares saw strong trading volume on Wednesday . 592,865 shares traded hands during trading, an increase of 17% from the previous session’s volume of 504,651 shares.The stock last traded at $72.63 and had previously closed at $76.40.
A number of analysts have recently commented on the company. Deutsche Bank AG reissued a “sell” rating on shares of Franco-Nevada Corp. in a research note on Wednesday, July 20th. Vetr raised Franco-Nevada Corp. from a “strong sell” rating to a “sell” rating and set a $62.44 price target on the stock in a research note on Wednesday, June 22nd. Goldman Sachs Group Inc. lowered Franco-Nevada Corp. from a “neutral” rating to a “sell” rating and lifted their price target for the company from $48.40 to $51.00 in a research note on Wednesday, May 11th. Canaccord Genuity reissued a “hold” rating and set a $86.00 price target (up from $84.00) on shares of Franco-Nevada Corp. in a research note on Friday, May 6th. Finally, Barclays PLC lifted their price target on Franco-Nevada Corp. from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $70.19.
The company’s 50 day moving average is $76.98 and its 200-day moving average is $67.82. The stock has a market capitalization of $12.87 billion and a PE ratio of 213.82.
Franco-Nevada Corp. (NYSE:FNV) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $150.90 million for the quarter, compared to the consensus estimate of $149.36 million. Franco-Nevada Corp.’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. Analysts expect that Franco-Nevada Corp. will post $0.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, September 13th.
An institutional investor recently raised its position in Franco-Nevada Corp. stock. I.G. Investment Management LTD. increased its stake in shares of Franco-Nevada Corp. (NYSE:FNV) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 321,319 shares of the company’s stock after buying an additional 11,609 shares during the period. I.G. Investment Management LTD. owned approximately 0.20% of Franco-Nevada Corp. worth $14,707,000 at the end of the most recent quarter.
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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