Vetr Inc. Lowers Franco-Nevada Corp. (FNV) to Hold
Franco-Nevada Corp. (NYSE:FNV) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $65.43 price objective on the stock. Vetr‘s price target indicates a potential upside of 2.76% from the company’s previous close.
A number of other equities research analysts have also recently commented on FNV. Zacks Investment Research raised shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, July 5th. Deutsche Bank AG reaffirmed a “sell” rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. HSBC reaffirmed a “buy” rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. 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 report on Monday, August 8th. Finally, Bank of America Corp. initiated coverage on shares of Franco-Nevada Corp. in a report on Tuesday, August 9th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.11.
Franco-Nevada Corp. (NYSE:FNV) traded up 0.35% during midday trading on Monday, reaching $63.67. The company had a trading volume of 276,969 shares. Franco-Nevada Corp. has a 1-year low of $41.47 and a 1-year high of $81.16. The firm’s 50 day moving average is $71.06 and its 200 day moving average is $70.73. The stock has a market capitalization of $11.34 billion, a PE ratio of 188.37 and a beta of 0.18.
Franco-Nevada Corp. (NYSE:FNV) last announced its earnings results on Monday, August 8th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Franco-Nevada Corp. had a net margin of 11.05% and a return on equity of 3.02%. The business earned $150.90 million during the quarter, compared to analysts’ expectations of $149.36 million. During the same period in the prior year, the company earned $0.15 earnings per share. The business’s revenue was up 37.9% compared to the same quarter last year. On average, equities analysts anticipate that Franco-Nevada Corp. will post $0.90 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were given a $0.22 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. Franco-Nevada Corp.’s dividend payout ratio is presently 275.00%.
Several hedge funds have recently added to or reduced their stakes in FNV. IFP Advisors Inc raised its stake in Franco-Nevada Corp. by 15.3% in the second quarter. IFP Advisors Inc now owns 1,317 shares of the company’s stock valued at $100,000 after buying an additional 175 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Franco-Nevada Corp. by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,788 shares of the company’s stock valued at $211,000 after buying an additional 1,100 shares in the last quarter. Seven Eight Capital LLC acquired a new stake in Franco-Nevada Corp. during the second quarter valued at approximately $221,000. Carnick & Kubik Group LLC acquired a new stake in Franco-Nevada Corp. during the second quarter valued at approximately $230,000. Finally, Independence Advisors LLC acquired a new stake in Franco-Nevada Corp. during the third quarter valued at approximately $231,000. Institutional investors and hedge funds own 64.49% of the company’s stock.
About Franco-Nevada Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.
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