Franco-Nevada (NYSE:FNV) Sees Strong Trading Volume After Analyst Upgrade

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) saw an uptick in trading volume on Monday after Royal Bank of Canada raised their price target on the stock from $130.00 to $135.00. Royal Bank of Canada currently has a sector perform rating on the stock. 41,057 shares changed hands during mid-day trading, a decline of 94% from the previous session’s volume of 692,159 shares.The stock last traded at $142.72 and had previously closed at $139.24.

A number of other equities analysts have also commented on FNV. BMO Capital Markets lifted their price target on shares of Franco-Nevada from $193.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, April 20th. Stifel Nicolaus cut their target price on Franco-Nevada from $193.00 to $189.00 and set a “hold” rating on the stock in a report on Monday, February 8th. TD Securities increased their price target on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, April 20th. CIBC cut their price objective on Franco-Nevada from $251.50 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, February 8th. Finally, Raymond James increased their target price on shares of Franco-Nevada from $159.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday, April 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $162.64.

Institutional investors have recently added to or reduced their stakes in the stock. Atlas Private Wealth Advisors acquired a new stake in Franco-Nevada in the first quarter worth $25,000. Valeo Financial Advisors LLC grew its stake in shares of Franco-Nevada by 63.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 240 shares of the basic materials company’s stock valued at $30,000 after buying an additional 93 shares during the period. HighMark Wealth Management LLC bought a new stake in Franco-Nevada in the 4th quarter valued at about $33,000. Bogart Wealth LLC acquired a new position in Franco-Nevada during the 1st quarter worth approximately $33,000. Finally, St. Johns Investment Management Company LLC bought a new position in Franco-Nevada in the first quarter worth approximately $34,000. Institutional investors own 64.81% of the company’s stock.

The company has a fifty day moving average price of $132.31 and a 200 day moving average price of $128.27. The stock has a market cap of $27.14 billion, a P/E ratio of 102.21, a P/E/G ratio of 10.45 and a beta of 0.48.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, March 9th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. Franco-Nevada had a net margin of 26.99% and a return on equity of 9.17%. The business had revenue of $304.50 million during the quarter, compared to the consensus estimate of $265.88 million. During the same quarter last year, the firm posted $0.59 EPS. Franco-Nevada’s revenue was up 18.0% compared to the same quarter last year. On average, analysts predict that Franco-Nevada Co. will post 2.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Thursday, March 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Wednesday, March 10th. Franco-Nevada’s payout ratio is presently 57.14%.

Franco-Nevada Company Profile (NYSE:FNV)

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Latin America, Canada, Australia, Europe, and Africa, and internationally. It operates through two segment, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.

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