Shares of Franco-Nevada Corporation (NYSE:FNV – Get Free Report) (TSE:FNV) saw unusually-strong trading volume on Wednesday . Approximately 2,316,893 shares changed hands during mid-day trading, an increase of 168% from the previous session’s volume of 865,599 shares.The stock last traded at $211.88 and had previously closed at $212.16.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on FNV shares. Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Scotiabank lifted their price target on shares of Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 14th. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price target for the stock from $292.00 to $291.00 in a research note on Wednesday, May 20th. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.00.
Read Our Latest Stock Report on Franco-Nevada
Franco-Nevada Stock Down 0.2%
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last released its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The firm’s revenue for the quarter was up 76.6% compared to the same quarter last year. As a group, equities analysts predict that Franco-Nevada Corporation will post 8.85 EPS for the current year.
Franco-Nevada Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.8%. Franco-Nevada’s payout ratio is presently 24.79%.
Institutional Trading of Franco-Nevada
Several institutional investors have recently added to or reduced their stakes in FNV. AQR Capital Management LLC bought a new stake in Franco-Nevada during the first quarter valued at $241,000. NewEdge Advisors LLC increased its stake in Franco-Nevada by 16.7% during the first quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 943 shares during the last quarter. Intech Investment Management LLC increased its stake in Franco-Nevada by 118.3% during the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock valued at $1,460,000 after purchasing an additional 5,032 shares during the last quarter. Acadian Asset Management LLC increased its stake in Franco-Nevada by 800.0% during the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Franco-Nevada during the second quarter valued at $1,477,000. Institutional investors own 77.06% of the company’s stock.
About Franco-Nevada
Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.
The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.
Featured Articles
- Five stocks we like better than Franco-Nevada
- Microsoft Just Gave Investors 3 Dates They Can’t Afford to Ignore
- NVIDIA’s Outlook Gains Momentum: Stock Price to Follow
- The World Cup Is Coming—These 3 Stocks Could Cash In
- Spotify’s “North Star” Outlook Was Music to Investors Ears
Receive News & Ratings for Franco-Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada and related companies with MarketBeat.com's FREE daily email newsletter.
