Franco-Nevada (NYSE:FNV) Shares Up 3.2%

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV)’s share price was up 3.2% during trading on Tuesday . The stock traded as high as $121.40 and last traded at $121.24. Approximately 29,249 shares traded hands during trading, a decline of 96% from the average daily volume of 688,470 shares. The stock had previously closed at $117.47.

Analyst Ratings Changes

Several equities analysts recently commented on FNV shares. Bank of America raised their target price on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. HC Wainwright raised their target price on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Scotiabank raised their target price on Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Jefferies Financial Group raised their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Finally, TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $149.30.

Franco-Nevada Price Performance

The company has a 50 day moving average price of $121.82 and a 200 day moving average price of $115.46.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. The company had revenue of $256.80 million during the quarter, compared to analysts’ expectations of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.79 EPS. Sell-side analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.21%. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC acquired a new stake in shares of Franco-Nevada during the third quarter worth $30,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Franco-Nevada during the fourth quarter worth $34,000. Allworth Financial LP grew its stake in shares of Franco-Nevada by 5,750.0% during the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 345 shares during the period. Fortis Group Advisors LLC grew its stake in shares of Franco-Nevada by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 176 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Franco-Nevada by 37.1% during the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 119 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, 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 through a third-party marketing agent.