Franco Nevada Corp (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Thursday, February 8th, Zacks reports. Investors of record on Thursday, March 15th will be given a dividend of 0.23 per share by the basic materials company on Thursday, March 29th. This represents a $0.92 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, March 14th.
Franco Nevada has increased its dividend by an average of 5.3% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Franco Nevada has a payout ratio of 86.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Franco Nevada to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 77.3%.
Franco Nevada (NYSE:FNV) traded down $0.91 during trading hours on Friday, reaching $69.03. The company had a trading volume of 1,083,147 shares, compared to its average volume of 671,570. The firm has a market capitalization of $12,990.00, a price-to-earnings ratio of 85.22, a price-to-earnings-growth ratio of 14.80 and a beta of -0.12. Franco Nevada has a 52-week low of $60.10 and a 52-week high of $86.06.
Several brokerages have weighed in on FNV. Zacks Investment Research raised Franco Nevada from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $121.00 target price on shares of Franco Nevada in a research report on Tuesday, November 7th. Raymond James Financial dropped their target price on Franco Nevada from $93.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 23rd. Scotiabank upped their target price on Franco Nevada from $82.50 to $85.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 7th. Finally, Credit Suisse Group set a $80.00 target price on Franco Nevada and gave the stock a “hold” rating in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Franco Nevada has a consensus rating of “Hold” and a consensus price target of $88.56.
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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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