Franco-Nevada (NYSE:FNV) Sees Large Volume Increase on Analyst Upgrade

Shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) saw unusually-strong trading volume on Monday after Royal Bank of Canada raised their price target on the stock from $130.00 to $135.00. Royal Bank of Canada currently has a sector perform rating on the stock. Approximately 41,057 shares traded hands during mid-day trading, a decline of 94% from the previous session’s volume of 692,159 shares.The stock last traded at $142.72 and had previously closed at $139.24.

A number of other equities research analysts also recently commented on FNV. TD Securities upped their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, April 20th. Zacks Investment Research cut shares of Franco-Nevada from a “hold” rating to a “sell” rating and set a $133.00 price objective for the company. in a report on Tuesday, January 12th. Barclays raised shares of Franco-Nevada from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $102.00 to $104.00 in a research report on Thursday, March 18th. JPMorgan Chase & Co. started coverage on Franco-Nevada in a research note on Wednesday, March 10th. They set a “neutral” rating and a $152.00 price objective on the stock. Finally, Stifel Nicolaus decreased their target price on Franco-Nevada from $193.00 to $189.00 and set a “hold” rating for the company in a research note on Monday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $162.64.

Several institutional investors and hedge funds have recently modified their holdings of the company. AMF Pensionsforsakring AB boosted its holdings in Franco-Nevada by 15.5% during the fourth quarter. AMF Pensionsforsakring AB now owns 104,112 shares of the basic materials company’s stock worth $13,043,000 after purchasing an additional 13,951 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Franco-Nevada by 45.4% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 16,723 shares of the basic materials company’s stock valued at $2,109,000 after acquiring an additional 5,223 shares in the last quarter. Confluence Investment Management LLC increased its position in shares of Franco-Nevada by 11.1% in the first quarter. Confluence Investment Management LLC now owns 11,032 shares of the basic materials company’s stock valued at $1,382,000 after acquiring an additional 1,102 shares during the last quarter. PCJ Investment Counsel Ltd. bought a new stake in Franco-Nevada during the fourth quarter worth about $1,269,000. Finally, Veracity Capital LLC boosted its position in Franco-Nevada by 17.4% during the first quarter. Veracity Capital LLC now owns 8,082 shares of the basic materials company’s stock valued at $1,013,000 after purchasing an additional 1,195 shares during the last quarter. 64.81% of the stock is owned by institutional investors.

The stock has a market cap of $27.14 billion, a price-to-earnings ratio of 102.21, a price-to-earnings-growth ratio of 10.45 and a beta of 0.48. The company has a 50-day simple moving average of $132.31 and a two-hundred day simple moving average of $128.27.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 9th. The basic materials company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.16. The business had revenue of $304.50 million for the quarter, compared to the consensus estimate of $265.88 million. Franco-Nevada had a net margin of 26.99% and a return on equity of 9.17%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. Analysts predict that Franco-Nevada Co. will post 2.52 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Thursday, March 11th were issued a $0.26 dividend. The ex-dividend date was Wednesday, March 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.73%. Franco-Nevada’s payout ratio is 57.14%.

Franco-Nevada Company Profile (NYSE:FNV)

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Latin America, Canada, Australia, Europe, and Africa, and internationally. It operates through two segment, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.

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