Franco Nevada Corp (NYSE:FNV) (TSE:FNV) – Equities researchers at Desjardins increased their Q1 2018 earnings estimates for Franco Nevada in a note issued to investors on Monday, according to Zacks Investment Research. Desjardins analyst J. Wolfson now anticipates that the basic materials company will post earnings per share of $0.30 for the quarter, up from their prior estimate of $0.26. Desjardins has a “Sell” rating on the stock. Desjardins also issued estimates for Franco Nevada’s Q2 2018 earnings at $0.29 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.18 EPS, Q1 2019 earnings at $0.28 EPS, Q2 2019 earnings at $0.30 EPS, Q3 2019 earnings at $0.32 EPS and FY2019 earnings at $1.22 EPS.
A number of other equities research analysts also recently weighed in on FNV. TD Securities set a $92.00 target price on Franco Nevada and gave the company a “buy” rating in a report on Thursday, October 19th. Royal Bank of Canada reissued a “buy” rating and set a $100.00 price objective on shares of Franco Nevada in a report on Monday, October 23rd. Canaccord Genuity reissued a “buy” rating and set a $121.00 price objective on shares of Franco Nevada in a report on Tuesday, November 7th. Scotiabank raised their price objective on Franco Nevada from $82.50 to $85.00 and gave the company a “sector perform” rating in a report on Tuesday, November 7th. Finally, Zacks Investment Research raised Franco Nevada from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $88.56.
Shares of Franco Nevada (NYSE:FNV) opened at $74.28 on Tuesday. The firm has a market capitalization of $13,280.00, a price-to-earnings ratio of 91.70, a price-to-earnings-growth ratio of 14.49 and a beta of -0.12. Franco Nevada has a twelve month low of $60.10 and a twelve month high of $86.06.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, March 14th. Franco Nevada’s dividend payout ratio is currently 113.58%.
Large investors have recently made changes to their positions in the stock. Advisory Services Network LLC raised its position 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 purchasing an additional 1,001 shares during the last quarter. Advisors Asset Management Inc. raised its position 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 purchasing an additional 1,575 shares during the last quarter. American International Group Inc. bought a new position in Franco Nevada during the 4th quarter worth $197,000. Gratus Capital LLC bought a new position in Franco Nevada during the 3rd quarter worth $201,000. Finally, Cigna Investments Inc. New bought a new position in Franco Nevada during the 4th quarter worth $203,000. 59.79% of the stock is owned by institutional investors and hedge funds.
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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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