Franco-Nevada Corp. (FNV) Shares Gap Up to $71.90
Shares of Franco-Nevada Corp. (NYSE:FNV) gapped up prior to trading 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.
FNV has been the topic of several recent analyst reports. TheStreet raised shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research raised shares of Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, July 5th. HSBC reissued a “buy” rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. Bank of America Corp. initiated coverage on shares of Franco-Nevada Corp. in a report on Tuesday, August 9th. They issued a “buy” rating on the stock. Finally, Barclays PLC raised 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. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $70.19.
The company has a 50 day moving average of $75.66 and a 200-day moving average of $68.59. The firm has a market cap of $13.20 billion and a price-to-earnings ratio of 219.26.
Franco-Nevada Corp. (NYSE:FNV) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The firm earned $150.90 million during the quarter, compared to analysts’ expectations of $149.36 million. During the same period in the previous year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. Analysts predict that Franco-Nevada Corp. will post $0.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a 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.
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