Franco-Nevada Corp. (FNV) Shares Gap Down to $71.90
Franco-Nevada Corp. (NYSE:FNV)’s share price gapped down prior to trading on Monday . The stock had previously closed at $71.15, but opened at $71.90. Franco-Nevada Corp. shares last traded at $74.11, with a volume of 625,600 shares.
FNV has been the subject of a number of research analyst reports. TheStreet raised shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Zacks Investment Research upgraded shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, July 5th. HSBC restated a “buy” rating on shares of Franco-Nevada Corp. in a research note on Thursday, July 7th. Bank of America Corp. started coverage on shares of Franco-Nevada Corp. in a research note on Tuesday, August 9th. They set a “buy” rating for the company. Finally, Barclays PLC increased 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 research note on Monday, August 8th. 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 company presently has an average rating of “Hold” and a consensus price target of $70.19.
The firm’s 50-day moving average is $75.71 and its 200-day moving average is $68.55. The company has a market cap of $13.20 billion and a PE ratio of 219.26.
Franco-Nevada Corp. (NYSE:FNV) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. During the same period last year, the firm posted $0.15 earnings per share. The company earned $150.90 million during the quarter, compared to the consensus estimate of $149.36 million. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. Equities analysts anticipate that Franco-Nevada Corp. will post $0.89 earnings per share for the current year.
The firm also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date 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.