Analysts Set Franco Nevada Corp (FNV) Price Target at $88.22
Franco Nevada Corp (NYSE:FNV) (TSE:FNV) has earned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $88.22.
Several research firms have recently issued reports on FNV. TD Securities set a $96.00 price objective on Franco Nevada and gave the company a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised Franco Nevada from a “hold” rating to a “strong-buy” rating and set a $85.00 price objective for the company in a research note on Thursday, February 15th. Desjardins reaffirmed a “sell” rating on shares of Franco Nevada in a research note on Monday, December 11th. Scotiabank set a $86.00 price objective on Franco Nevada and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Credit Suisse Group set a $80.00 price objective on Franco Nevada and gave the company a “hold” rating in a research note on Monday, January 22nd.
A number of large investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC increased its position in Franco Nevada by 0.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 231,567 shares of the basic materials company’s stock valued at $17,942,000 after purchasing an additional 650 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Franco Nevada by 2.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,600 shares of the basic materials company’s stock worth $1,772,000 after purchasing an additional 700 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Franco Nevada by 2.7% in the 4th quarter. LPL Financial LLC now owns 27,249 shares of the basic materials company’s stock worth $2,179,000 after purchasing an additional 729 shares in the last quarter. Comerica Bank lifted its holdings in shares of Franco Nevada by 3.5% in the 3rd quarter. Comerica Bank now owns 21,380 shares of the basic materials company’s stock worth $1,709,000 after purchasing an additional 731 shares in the last quarter. Finally, Hexavest Inc. lifted its stake in Franco Nevada by 9.3% during the 4th quarter. Hexavest Inc. now owns 8,648 shares of the basic materials company’s stock valued at $692,000 after acquiring an additional 733 shares in the last quarter. 60.53% of the stock is owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Wednesday, March 14th. Franco Nevada’s dividend payout ratio is presently 116.46%.
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About Franco Nevada
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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