Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $83.38 and last traded at $83.29, with a volume of 270,543 shares traded. The stock had previously closed at $82.13.

Several research analysts have issued reports on the stock. Scotiabank raised their price target on shares of Franco-Nevada Corporation from $78.00 to $79.50 and gave the stock a “sector perform” rating in a report on Thursday, August 10th. TD Securities raised their price target on shares of Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. BidaskClub upgraded shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research upgraded shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Wednesday, July 12th. Finally, Barclays PLC restated an “equal weight” rating and set a $74.00 price target (up previously from $68.00) on shares of Franco-Nevada Corporation in a report on Tuesday, June 6th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Franco-Nevada Corporation has a consensus rating of “Buy” and an average target price of $78.89.

The firm has a market capitalization of $15.37 billion, a price-to-earnings ratio of 104.54 and a beta of -0.07. The stock’s 50 day moving average is $76.79 and its 200-day moving average is $70.92.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $163.60 million for the quarter, compared to analysts’ expectations of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. On average, analysts forecast that Franco-Nevada Corporation will post $1.00 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.92 annualized dividend and a yield of 1.11%. Franco-Nevada Corporation’s payout ratio is 119.48%.

Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in shares of Franco-Nevada Corporation by 7.1% during the 1st quarter. Wells Fargo & Company MN now owns 40,245 shares of the basic materials company’s stock valued at $2,636,000 after buying an additional 2,652 shares in the last quarter. CGOV Asset Management lifted its position in shares of Franco-Nevada Corporation by 4.0% during the 1st quarter. CGOV Asset Management now owns 41,400 shares of the basic materials company’s stock valued at $3,613,000 after buying an additional 1,600 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Franco-Nevada Corporation by 1.5% during the 1st quarter. AQR Capital Management LLC now owns 504,685 shares of the basic materials company’s stock valued at $32,968,000 after buying an additional 7,472 shares in the last quarter. State of Wisconsin Investment Board lifted its position in shares of Franco-Nevada Corporation by 7.8% during the 1st quarter. State of Wisconsin Investment Board now owns 148,698 shares of the basic materials company’s stock valued at $9,714,000 after buying an additional 10,739 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Franco-Nevada Corporation by 3.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,900 shares of the basic materials company’s stock valued at $1,550,000 after buying an additional 800 shares in the last quarter. 60.28% of the stock is currently owned by hedge funds and other institutional investors.

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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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