Credit Suisse Group set a $80.00 price target on Franco Nevada (NYSE:FNV) (TSE:FNV) in a research report report published on Monday, January 22nd. The firm currently has a hold rating on the basic materials company’s stock.
FNV has been the topic of a number of other research reports. Zacks Investment Research upgraded Franco Nevada from a hold rating to a buy rating and set a $88.00 target price on the stock in a research note on Tuesday, January 9th. TD Securities set a $92.00 target price on Franco Nevada and gave the stock a buy rating in a research note on Thursday, October 19th. Canaccord Genuity restated a buy rating and issued a $121.00 target price on shares of Franco Nevada in a research note on Tuesday, November 7th. Scotiabank lifted their price target on shares of Franco Nevada from $82.50 to $85.00 and gave the stock a sector perform rating in a report on Tuesday, November 7th. Finally, Desjardins reaffirmed a sell rating on shares of Franco Nevada in a report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $88.56.
Franco Nevada (NYSE FNV) traded up $2.78 during mid-day trading on Monday, reaching $74.28. The company’s stock had a trading volume of 1,050,592 shares, compared to its average volume of 675,740. The firm has a market cap of $13,280.00, a P/E ratio of 91.70, a P/E/G ratio of 14.49 and a beta of -0.12. Franco Nevada has a fifty-two week low of $60.10 and a fifty-two week high of $86.06.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 1.24%. Franco Nevada’s payout ratio is currently 113.58%.
Several institutional investors have recently added to or reduced their stakes in FNV. Alliancebernstein L.P. increased its holdings in shares of Franco Nevada by 22.1% in the second quarter. Alliancebernstein L.P. now owns 56,051 shares of the basic materials company’s stock worth $4,045,000 after purchasing an additional 10,143 shares during the period. PNC Financial Services Group Inc. grew its position in Franco Nevada by 78.4% in the second quarter. PNC Financial Services Group Inc. now owns 6,453 shares of the basic materials company’s stock worth $466,000 after acquiring an additional 2,836 shares in the last quarter. Northern Trust Corp grew its position in Franco Nevada by 5.1% in the second quarter. Northern Trust Corp now owns 127,619 shares of the basic materials company’s stock worth $9,209,000 after acquiring an additional 6,201 shares in the last quarter. Vanguard Group Inc. grew its position in Franco Nevada by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,221,772 shares of the basic materials company’s stock worth $304,643,000 after acquiring an additional 145,698 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Franco Nevada by 24.0% in the second quarter. Parametric Portfolio Associates LLC now owns 49,963 shares of the basic materials company’s stock worth $3,605,000 after acquiring an additional 9,678 shares in the last quarter. 59.79% of the stock is currently owned by hedge funds and other institutional investors.
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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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