Franco-Nevada Corp. (FNV) Shares Gap Up to $71.90
Shares of Franco-Nevada Corp. (NYSE:FNV) gapped up before the market opened on Friday . The stock had previously closed at $71.15, but opened at $71.90. Franco-Nevada Corp. shares last traded at $73.67, with a volume of 321,041 shares trading hands.
Several brokerages have commented on FNV. TD Securities reiterated a “hold” rating and set a $77.00 target price on shares of Franco-Nevada Corp. in a research report on Saturday, August 13th. TheStreet upgraded shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. BMO Capital Markets set a $108.00 target price on shares of Franco-Nevada Corp. and gave the company a “hold” rating in a research report on Monday, August 8th. Bank of America Corp. began coverage on shares of Franco-Nevada Corp. in a research report on Tuesday, August 9th. They set a “buy” rating for the company. Finally, Barclays PLC upped their target price on shares of Franco-Nevada Corp. from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, August 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $70.19.
The firm has a market capitalization of $13.20 billion and a P/E ratio of 219.26. The company has a 50-day moving average price of $75.71 and a 200-day moving average price of $68.55.
Franco-Nevada Corp. (NYSE:FNV) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $150.90 million for the quarter, compared to analyst estimates of $149.36 million. During the same quarter last year, the firm posted $0.15 EPS. Franco-Nevada Corp.’s revenue for the quarter was up 37.9% on a year-over-year basis. Analysts anticipate that Franco-Nevada Corp. will post $0.89 earnings per share for the current year.
The firm 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 of this dividend is Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.19%.
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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