Franco-Nevada (NYSE:FNV) Trading 3.2% Higher

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV)’s stock price rose 3.2% during mid-day trading on Tuesday . The company traded as high as $121.40 and last traded at $121.24. Approximately 29,249 shares traded hands during mid-day 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

FNV has been the topic of a number of recent research reports. HC Wainwright boosted their target price on Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 6th. Raymond James boosted their target price on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Jefferies Financial Group boosted their target price on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Bank of America boosted their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Scotiabank boosted their target price on Franco-Nevada from $140.00 to $141.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $149.30.

Franco-Nevada Price Performance

The company has a 50-day simple moving average of $121.89 and a 200-day simple moving average of $115.57.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The firm 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%. Franco-Nevada’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 earnings per share. As a group, equities analysts expect that Franco-Nevada Co. will post 3.2 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, June 13th. Franco-Nevada’s dividend payout ratio (DPR) is -57.83%.

Institutional Trading of Franco-Nevada

A number of large investors have recently made changes to their positions in FNV. VisionPoint Advisory Group LLC acquired a new stake in shares of Franco-Nevada during the third quarter valued at $30,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Franco-Nevada during the fourth quarter valued at $34,000. Allworth Financial LP boosted 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 valued at $39,000 after acquiring an additional 345 shares during the last quarter. Fortis Group Advisors LLC boosted 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 valued at $39,000 after acquiring an additional 176 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in 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 buying an additional 119 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

About Franco-Nevada

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.