Stock Traders Buy High Volume of Franco Nevada Call Options (FNV)

Franco Nevada Corp (NYSE:FNV) (TSE:FNV) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 2,519 call options on the stock. This represents an increase of 823% compared to the average volume of 273 call options.

FNV has been the topic of several recent analyst reports. ValuEngine upgraded shares of Franco Nevada from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Royal Bank of Canada restated an “outperform” rating on shares of Franco Nevada in a report on Thursday, September 7th. Scotiabank upped their price objective on shares of Franco Nevada from $79.50 to $82.00 and gave the stock a “sector perform” rating in a report on Friday, September 8th. Credit Suisse Group lowered shares of Franco Nevada from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $78.00 to $80.00 in a report on Monday, September 25th. Finally, TD Securities set a $92.00 price objective on shares of Franco Nevada and gave the stock a “buy” rating in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Franco Nevada currently has a consensus rating of “Hold” and an average target price of $85.70.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC increased its stake in Franco Nevada by 199.0% during the 2nd quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock worth $109,000 after buying an additional 1,001 shares during the period. Advisors Asset Management Inc. increased its stake in Franco Nevada by 453.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock worth $149,000 after buying an additional 1,575 shares during the period. Gratus Capital LLC purchased a new stake in Franco Nevada during the 3rd quarter worth approximately $201,000. Blair William & Co. IL purchased a new stake in Franco Nevada during the 2nd quarter worth approximately $210,000. Finally, Wright Investors Service Inc. purchased a new stake in Franco Nevada during the 3rd quarter worth approximately $245,000. 61.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Franco Nevada (FNV) opened at $75.99 on Friday. Franco Nevada has a 52 week low of $54.69 and a 52 week high of $86.06. The firm has a market cap of $14,297.32, a P/E ratio of 74.02, a P/E/G ratio of 17.93 and a beta of -0.14.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, November 6th. The basic materials company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. Franco Nevada had a net margin of 22.12% and a return on equity of 4.31%. The firm had revenue of $171.50 million for the quarter, compared to the consensus estimate of $167.07 million. During the same period in the prior year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. analysts predict that Franco Nevada will post 1.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.21%. The ex-dividend date is Wednesday, December 6th. Franco Nevada’s payout ratio is currently 116.46%.

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About Franco Nevada

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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