Franco-Nevada Corp. (FNV) Shares Up 2.9%
Franco-Nevada Corp. (NYSE:FNV) shot up 2.9% during mid-day trading on Thursday . The company traded as high as $71.83 and last traded at $71.81, with a volume of 572,213 shares trading hands. The stock had previously closed at $69.82.
A number of research firms have issued reports on FNV. Vetr upgraded 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 note on Wednesday, June 22nd. HSBC restated a “buy” rating on shares of Franco-Nevada Corp. in a research note on Thursday, July 7th. Goldman Sachs Group Inc. cut shares of Franco-Nevada Corp. from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $48.40 to $51.00 in a research note on Wednesday, May 11th. Barclays PLC lifted their price objective on shares of 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. Finally, Deutsche Bank AG restated a “sell” rating on shares of Franco-Nevada Corp. in a research note on Thursday, July 7th. Three 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 stock. The stock has an average rating of “Hold” and a consensus target price of $70.19.
The company has a market cap of $13.20 billion and a PE ratio of 219.26. The firm has a 50-day moving average price of $75.66 and a 200 day moving average price of $68.59.
Franco-Nevada Corp. (NYSE:FNV) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. During the same quarter last year, the company earned $0.15 earnings per share. The company 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. Equities analysts expect that Franco-Nevada Corp. will post $0.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 13th.
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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