Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV)‘s stock had its “hold” rating reissued by investment analysts at Barclays PLC in a research report issued on Wednesday. They currently have a $65.00 price objective on the stock. Barclays PLC’s price target would suggest a potential upside of 5.21% from the stock’s current price.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Franco-Nevada Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, November 8th. Scotiabank reissued a “sector perform” rating and issued a $80.00 price objective on shares of Franco-Nevada Corporation in a research note on Tuesday, November 8th. RBC Capital Markets reissued an “outperform” rating on shares of Franco-Nevada Corporation in a research note on Tuesday, November 8th. Finally, Deutsche Bank AG raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Wednesday, November 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Franco-Nevada Corporation currently has a consensus rating of “Hold” and an average price target of $75.58.
Franco-Nevada Corporation (NYSE:FNV) traded up 0.23% during mid-day trading on Wednesday, hitting $61.92. The company’s stock had a trading volume of 734,389 shares. Franco-Nevada Corporation has a 52-week low of $41.47 and a 52-week high of $81.16. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 111.17 and a beta of 0.17. The firm has a 50 day moving average of $58.34 and a 200-day moving average of $67.94.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 22nd. Shareholders of record on Thursday, December 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 6th. This represents a $0.88 dividend on an annualized basis and a yield of 1.42%. Franco-Nevada Corporation’s dividend payout ratio (DPR) is currently 169.23%.
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A number of hedge funds have recently modified their holdings of FNV. Dimensional Fund Advisors LP boosted its stake in shares of Franco-Nevada Corporation by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 57,953 shares of the company’s stock worth $4,408,000 after buying an additional 2,501 shares during the period. Cadinha & Co. LLC purchased a new stake in shares of Franco-Nevada Corporation during the second quarter worth approximately $11,982,000. Janney Montgomery Scott LLC boosted its stake in shares of Franco-Nevada Corporation by 13.1% in the second quarter. Janney Montgomery Scott LLC now owns 4,304 shares of the company’s stock worth $327,000 after buying an additional 500 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Franco-Nevada Corporation by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,788 shares of the company’s stock worth $211,000 after buying an additional 1,100 shares during the period. Finally, Plancorp LLC boosted its stake in shares of Franco-Nevada Corporation by 17.5% in the second quarter. Plancorp LLC now owns 86,776 shares of the company’s stock worth $6,600,000 after buying an additional 12,938 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.
Franco-Nevada Corporation Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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