Franco-Nevada Corp. (FNV) Trading Down 1.2%
Franco-Nevada Corp. (NYSE:FNV)’s share price dropped 1.2% during trading on Tuesday . The stock traded as low as $76.68 and last traded at $76.81, with a volume of 203,034 shares trading hands. The stock had previously closed at $77.77.
A number of equities analysts recently issued reports on FNV shares. Deutsche Bank AG reissued a “sell” rating on shares of Franco-Nevada Corp. in a report on Wednesday, July 20th. TheStreet raised Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Vetr lowered Franco-Nevada Corp. from a “sell” rating to a “strong sell” rating and set a $60.05 price objective for the company. in a report on Monday, June 6th. Canaccord Genuity reissued a “hold” rating and issued a $86.00 price objective (up from $84.00) on shares of Franco-Nevada Corp. in a report on Friday, May 6th. Finally, Zacks Investment Research raised Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, July 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Franco-Nevada Corp. has a consensus rating of “Hold” and an average price target of $70.19.
The stock’s 50 day moving average price is $76.98 and its 200-day moving average price is $67.82. The firm has a market capitalization of $13.61 billion and a P/E ratio of 226.04.
Franco-Nevada Corp. (NYSE:FNV) last posted its earnings results on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The firm earned $150.90 million during the quarter, compared to the consensus estimate of $149.36 million. The business’s revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. Equities research analysts expect that Franco-Nevada Corp. will post $0.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Tuesday, September 13th.
An institutional investor recently raised its position in Franco-Nevada Corp. stock. I.G. Investment Management LTD. increased its position 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 Securities and Exchange Commission (SEC). The institutional investor 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 0.20% of Franco-Nevada Corp. worth $14,707,000 as of its most recent SEC filing.
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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