Franco-Nevada Corp. (FNV) Sees Unusually-High Trading Volume
Franco-Nevada Corp. (NYSE:FNV) shares saw strong trading volume on Wednesday . 592,865 shares changed 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 recently issued reports on the stock. Vetr upgraded shares of Franco-Nevada Corp. from a “strong sell” rating to a “sell” rating and set a $62.44 target price on the stock in a research report on Wednesday, June 22nd. HSBC restated a “buy” rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Goldman Sachs Group Inc. lowered shares of Franco-Nevada Corp. from a “neutral” rating to a “sell” rating and raised their target price for the stock from $48.40 to $51.00 in a research report on Wednesday, May 11th. Barclays PLC raised their target price on shares of Franco-Nevada Corp. from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, August 8th. Finally, TD Securities restated a “hold” rating and set a $77.00 target price on shares of Franco-Nevada Corp. in a research report on Saturday, August 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $70.19.
The stock has a 50 day moving average of $76.62 and a 200-day moving average of $67.89. The stock has a market cap of $13.34 billion and a PE ratio of 221.66.
Franco-Nevada Corp. (NYSE:FNV) last released its quarterly earnings results on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. The firm had revenue of $150.90 million for the quarter, compared to analyst estimates of $149.36 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The firm’s revenue was up 37.9% compared to the same quarter last year. On average, analysts expect that Franco-Nevada Corp. will post $0.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.21%.
A hedge fund recently raised its stake in Franco-Nevada Corp. stock. Marshall Wace LLP boosted its position in shares of Franco-Nevada Corp. (NYSE:FNV) by 141.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,778 shares of the company’s stock after buying an additional 20,378 shares during the period. Marshall Wace LLP’s holdings in Franco-Nevada Corp. were worth $1,591,000 at the end of the most recent reporting period.
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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