Franco-Nevada Corporation (FNV) Given a $80.00 Price Target at Credit Suisse Group
Credit Suisse Group set a $80.00 price objective on Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in a research report released on Wednesday. The firm currently has a buy rating on the basic materials company’s stock.
Other equities research analysts have also issued research reports about the stock. Scotiabank upped their price target on shares of Franco-Nevada Corporation from $45.00 to $48.00 and gave the company a sector perform rating in a research report on Thursday, May 11th. Barclays PLC reaffirmed an equal weight rating and set a $74.00 price target (up previously from $68.00) on shares of Franco-Nevada Corporation in a research report on Tuesday, June 6th. ValuEngine raised shares of Franco-Nevada Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Raymond James Financial, Inc. reaffirmed an outperform rating and set a $85.00 price target on shares of Franco-Nevada Corporation in a research report on Thursday, June 15th. Finally, BidaskClub lowered shares of Franco-Nevada Corporation from a strong-buy rating to a buy rating in a research report on Saturday, June 10th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $77.55.
Shares of Franco-Nevada Corporation (NYSE FNV) opened at 72.30 on Wednesday. The stock has a market cap of $13.07 billion, a P/E ratio of 95.01 and a beta of 0.01. The company’s 50-day moving average is $71.56 and its 200-day moving average is $65.78. Franco-Nevada Corporation has a 12-month low of $53.31 and a 12-month high of $81.16.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Franco-Nevada Corporation had a net margin of 21.17% and a return on equity of 4.35%. The firm had revenue of $172.70 million during the quarter, compared to analyst estimates of $158.75 million. During the same quarter in the prior year, the firm earned $0.17 EPS. On average, equities research analysts anticipate that Franco-Nevada Corporation will post $0.97 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 15th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.27%. This is a positive change from Franco-Nevada Corporation’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, June 13th. Franco-Nevada Corporation’s dividend payout ratio is currently 121.05%.
Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Franco-Nevada Corporation during the fourth quarter valued at about $217,899,000. Bank of Montreal Can raised its stake in Franco-Nevada Corporation by 15.7% in the first quarter. Bank of Montreal Can now owns 6,857,037 shares of the basic materials company’s stock valued at $449,204,000 after buying an additional 931,206 shares in the last quarter. Van ECK Associates Corp raised its stake in Franco-Nevada Corporation by 6.6% in the first quarter. Van ECK Associates Corp now owns 10,773,637 shares of the basic materials company’s stock valued at $705,781,000 after buying an additional 666,196 shares in the last quarter. Renaissance Technologies LLC raised its stake in Franco-Nevada Corporation by 214.7% in the fourth quarter. Renaissance Technologies LLC now owns 838,100 shares of the basic materials company’s stock valued at $50,074,000 after buying an additional 571,800 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in Franco-Nevada Corporation by 287.0% in the fourth quarter. Fiera Capital Corp now owns 528,365 shares of the basic materials company’s stock valued at $31,537,000 after buying an additional 391,825 shares in the last quarter. 62.38% of the stock is owned by institutional investors.
About Franco-Nevada Corporation
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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