Franco Nevada Corp (FNV) Sets New 1-Year High on Analyst Upgrade

Franco Nevada Corp (TSE:FNV) (NYSE:FNV)’s share price hit a new 52-week high on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$100.00 to C$116.00. Royal Bank Of Canada currently has an outperform rating on the stock. Franco Nevada Corp traded as high as C$108.25 and last traded at C$106.17, with a volume of 177800 shares changing hands. The stock had previously closed at C$106.50.

Several other equities analysts have also weighed in on the stock. Scotiabank increased their price objective on shares of Franco Nevada Corp to C$100.00 and gave the company a “sector perform” rating in a report on Friday, September 8th. Bank of America Corporation increased their price objective on shares of Franco Nevada Corp from C$107.00 to C$110.00 in a report on Friday, September 8th. Canaccord Genuity increased their price objective on shares of Franco Nevada Corp from C$118.00 to C$119.00 in a report on Friday, October 20th. CIBC increased their price objective on shares of Franco Nevada Corp from C$105.00 to C$110.00 in a report on Thursday, August 10th. Finally, TD Securities increased their price objective on shares of Franco Nevada Corp to C$123.50 and gave the company a “buy” rating in a report on Tuesday, November 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Franco Nevada Corp presently has a consensus rating of “Hold” and a consensus price target of C$109.00.

In related news, Director Derek Watson Evans sold 65,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of C$99.81, for a total value of C$6,487,650.00. Also, insider Kerry Elwyn Sparkes sold 643 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of C$103.36, for a total transaction of C$66,460.48.

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 given a $0.296 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.18 dividend on an annualized basis and a yield of 1.12%. This is an increase from Franco Nevada Corp’s previous quarterly dividend of $0.23. Franco Nevada Corp’s dividend payout ratio (DPR) is 88.24%.

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Franco Nevada Corp 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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