Franco-Nevada Corp. (FNV) Trading 2.9% Higher
Franco-Nevada Corp. (NYSE:FNV) traded up 2.9% during trading on Thursday . The company traded as high as $71.83 and last traded at $71.81, with a volume of 572,213 shares traded. The stock had previously closed at $69.82.
A number of equities research analysts recently commented on the stock. Canaccord Genuity restated a “hold” rating and set a $86.00 price objective (up from $84.00) on shares of Franco-Nevada Corp. in a report on Friday, May 6th. TheStreet upgraded shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Barclays PLC raised their price objective on shares of Franco-Nevada Corp. from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, August 8th. BMO Capital Markets lowered shares of Franco-Nevada Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, May 12th. Finally, Zacks Investment Research upgraded shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, July 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Franco-Nevada Corp. has a consensus rating of “Hold” and an average price target of $70.19.
The company has a market capitalization of $12.81 billion and a price-to-earnings ratio of 212.72. The company has a 50 day moving average of $75.88 and a 200 day moving average of $68.53.
Franco-Nevada Corp. (NYSE:FNV) last issued its earnings results on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The company had revenue of $150.90 million for the quarter, compared to the consensus estimate of $149.36 million. During the same period in the prior year, the company earned $0.15 earnings per share. The firm’s revenue was up 37.9% compared to the same quarter last year. On average, analysts forecast that Franco-Nevada Corp. will post $0.89 earnings per share 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 issued a $0.22 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 1.22%.
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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