Franco Nevada Corp (FNV) Sets New 12-Month High on Analyst Upgrade

Franco Nevada Corp (TSE:FNV) (NYSE:FNV) shares reached a new 52-week high on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$100.00 to C$116.00. Royal Bank Of Canada currently has an outperform rating on the stock. Franco Nevada Corp traded as high as C$108.25 and last traded at C$106.17, with a volume of 177800 shares traded. The stock had previously closed at C$106.50.

Several other research analysts have also recently weighed in on the company. TD Securities boosted their price objective on Franco Nevada Corp to C$123.50 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Scotiabank boosted their target price on Franco Nevada Corp to C$108.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 7th. National Bank Financial boosted their target price on Franco Nevada Corp from C$100.00 to C$107.50 and gave the company a “sector perform” rating in a research note on Tuesday, November 7th. CIBC boosted their target price on Franco Nevada Corp from C$110.00 to C$120.00 in a research note on Tuesday, November 7th. Finally, Canaccord Genuity boosted their target price on Franco Nevada Corp from C$119.00 to C$121.00 in a research note on Tuesday, November 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Franco Nevada Corp currently has an average rating of “Hold” and an average target price of C$109.00.

In other Franco Nevada Corp news, insider Kerry Elwyn Sparkes sold 643 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of C$103.36, for a total value of C$66,460.48.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be paid a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.10%. This is a positive change from Franco Nevada Corp’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, December 6th. Franco Nevada Corp’s payout ratio is presently 88.24%.

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Franco Nevada Corp 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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