Franco Nevada (NYSE:FNV) (TSE:FNV) had its target price lowered by Raymond James Financial from $93.00 to $91.00 in a research note released on Friday morning. The firm currently has an outperform rating on the basic materials company’s stock.
A number of other equities analysts have also recently issued reports on FNV. Zacks Investment Research upgraded Franco Nevada from a hold rating to a buy rating and set a $94.00 target price on the stock in a report on Thursday, November 9th. TD Securities set a $96.00 target price on Franco Nevada and gave the stock a buy rating in a report on Friday, December 1st. Desjardins reiterated a sell rating on shares of Franco Nevada in a report on Monday, December 11th. Scotiabank set a $86.00 target price on Franco Nevada and gave the stock a hold rating in a report on Monday, January 22nd. Finally, Credit Suisse Group set a $80.00 target price on Franco Nevada and gave the stock a hold rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Franco Nevada presently has a consensus rating of Buy and a consensus target price of $88.00.
Franco Nevada (NYSE FNV) opened at $68.17 on Friday. The stock has a market capitalization of $12,674.87, a P/E ratio of 63.12, a price-to-earnings-growth ratio of 14.10 and a beta of -0.02. Franco Nevada has a twelve month low of $60.57 and a twelve month high of $86.06.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Wednesday, March 14th. Franco Nevada’s dividend payout ratio is currently 87.62%.
Several institutional investors and hedge funds have recently modified their holdings of FNV. Capital Fund Management S.A. lifted its stake in Franco Nevada by 455.3% during the 4th quarter. Capital Fund Management S.A. now owns 3,332 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 2,732 shares in the last quarter. Nationwide Fund Advisors bought a new position in Franco Nevada during the 3rd quarter valued at $1,567,000. JPMorgan Chase & Co. lifted its stake in Franco Nevada by 1.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 946,879 shares of the basic materials company’s stock valued at $74,444,000 after acquiring an additional 14,357 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Franco Nevada by 17.1% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,007 shares of the basic materials company’s stock valued at $1,008,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. bought a new position in Franco Nevada during the 4th quarter valued at $254,000. Institutional investors own 63.37% of the company’s stock.
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Franco Nevada Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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