Franco-Nevada Co. (NYSE:FNV – Get Free Report) (TSE:FNV) hit a new 52-week low during mid-day trading on Monday after Raymond James lowered their price target on the stock from $145.00 to $135.00. Raymond James currently has a hold rating on the stock. Franco-Nevada traded as low as $110.65 and last traded at $110.93, with a volume of 80548 shares trading hands. The stock had previously closed at $113.16.
A number of other equities research analysts have also recently weighed in on FNV. Royal Bank of Canada cut their price objective on shares of Franco-Nevada from $155.00 to $140.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 1st. Stifel Nicolaus upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday, August 18th. HC Wainwright upped their price objective on shares of Franco-Nevada from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. TD Securities cut their price objective on shares of Franco-Nevada from $145.00 to $135.00 and set a “hold” rating on the stock in a report on Thursday. Finally, CSFB cut their price objective on shares of Franco-Nevada from $157.00 to $150.00 and set a “neutral” rating on the stock in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada has an average rating of “Hold” and a consensus price target of $169.44.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. City State Bank raised its position in Franco-Nevada by 136.0% in the second quarter. City State Bank now owns 177 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 102 shares during the period. Castleview Partners LLC purchased a new stake in shares of Franco-Nevada in the third quarter worth $33,000. State of Wyoming purchased a new stake in shares of Franco-Nevada in the fourth quarter worth $38,000. FinTrust Capital Advisors LLC increased its stake in shares of Franco-Nevada by 209.0% in the third quarter. FinTrust Capital Advisors LLC now owns 309 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 209 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Franco-Nevada in the first quarter worth $47,000. Institutional investors own 66.70% of the company’s stock.
Franco-Nevada Stock Down 2.0 %
The stock’s 50 day moving average price is $127.43 and its 200-day moving average price is $137.52. The stock has a market capitalization of $21.31 billion, a PE ratio of 31.97, a PEG ratio of 5.10 and a beta of 0.69.
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last announced its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $309.50 million during the quarter, compared to analysts’ expectations of $317.93 million. Franco-Nevada had a net margin of 55.10% and a return on equity of 10.23%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 earnings per share. On average, analysts forecast that Franco-Nevada Co. will post 3.36 earnings per share for the current year.
Franco-Nevada Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a yield of 1.23%. Franco-Nevada’s payout ratio is 38.42%.
Franco-Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids.