Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) saw strong trading volume on Wednesday after Raymond James raised their price target on the stock from $164.00 to $168.00. Raymond James currently has an outperform rating on the stock. 34,939 shares traded hands during trading, a decline of 93% from the previous session’s volume of 488,653 shares.The stock last traded at $133.25 and had previously closed at $130.08.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a research note on Tuesday, January 4th. KeyCorp lowered their price target on Franco-Nevada from $156.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, December 20th. raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, October 21st. HC Wainwright started coverage on Franco-Nevada in a report on Monday, December 20th. They set a “buy” rating and a $167.00 price target on the stock. Finally, National Bank Financial lowered their price target on Franco-Nevada from C$205.00 to C$195.00 in a report on Friday, January 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Franco-Nevada has an average rating of “Buy” and an average price target of $175.50.
A number of institutional investors have recently made changes to their positions in the stock. CIBC World Markets Inc. raised its holdings in Franco-Nevada by 1.1% during the second quarter. CIBC World Markets Inc. now owns 1,517,352 shares of the basic materials company’s stock valued at $220,122,000 after acquiring an additional 15,898 shares during the period. Goldman Sachs Group Inc. raised its holdings in Franco-Nevada by 228.6% during the second quarter. Goldman Sachs Group Inc. now owns 778,477 shares of the basic materials company’s stock valued at $112,934,000 after acquiring an additional 541,551 shares during the period. LPL Financial LLC raised its holdings in Franco-Nevada by 8.9% during the second quarter. LPL Financial LLC now owns 47,060 shares of the basic materials company’s stock valued at $6,827,000 after acquiring an additional 3,849 shares during the period. Bank of America Corp DE raised its holdings in Franco-Nevada by 109.9% during the second quarter. Bank of America Corp DE now owns 1,297,737 shares of the basic materials company’s stock valued at $188,263,000 after acquiring an additional 679,579 shares during the period. Finally, United Capital Financial Advisers LLC raised its holdings in Franco-Nevada by 11.9% during the second quarter. United Capital Financial Advisers LLC now owns 10,554 shares of the basic materials company’s stock valued at $1,531,000 after acquiring an additional 1,125 shares during the period. 67.55% of the stock is currently owned by institutional investors.
The stock has a fifty day simple moving average of $135.99 and a 200 day simple moving average of $141.40. The firm has a market capitalization of $25.57 billion, a P/E ratio of 36.51, a PEG ratio of 9.36 and a beta of 0.66.
Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, November 3rd. The basic materials company reported $0.87 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.87. The business had revenue of $316.30 million for the quarter, compared to analysts’ expectations of $323.39 million. Franco-Nevada had a return on equity of 11.86% and a net margin of 54.00%. During the same period last year, the firm earned $0.80 earnings per share. On average, equities research analysts predict that Franco-Nevada Co. will post 3.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 23rd. Stockholders of record on Thursday, December 9th were given a dividend of $0.242 per share. The ex-dividend date of this dividend was Wednesday, December 8th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 0.72%. Franco-Nevada’s payout ratio is 33.24%.
Franco-Nevada Company Profile (NYSE:FNV)
Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded on October 17, 2007 and is headquartered in Toronto, Canada.