Franco-Nevada Corporation (FNV) Given a $78.00 Price Target by Credit Suisse Group Analysts

Credit Suisse Group set a $78.00 price target on Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in a research note published on Tuesday morning. The brokerage currently has a buy rating on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the stock. Barclays PLC dropped their target price on shares of Franco-Nevada Corporation from $74.00 to $72.00 and set an equal weight rating for the company in a research report on Thursday, July 13th. Scotiabank boosted their target price on shares of Franco-Nevada Corporation from $45.00 to $48.00 and gave the stock a sector perform rating in a research report on Thursday, May 11th. BidaskClub downgraded shares of Franco-Nevada Corporation from a buy rating to a hold rating in a research report on Sunday. ValuEngine raised shares of Franco-Nevada Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, Deutsche Bank AG reissued a hold rating and issued a $64.00 target price (down previously from $65.00) on shares of Franco-Nevada Corporation in a research report on Sunday, June 25th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $77.78.

Shares of Franco-Nevada Corporation (FNV) traded up 0.96% during trading on Tuesday, hitting $73.40. The company’s stock had a trading volume of 387,680 shares. The firm’s 50 day moving average price is $72.61 and its 200-day moving average price is $67.91. The company has a market cap of $13.27 billion, a PE ratio of 96.45 and a beta of -0.03. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $81.16.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, May 9th. The basic materials company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company had revenue of $172.70 million during the quarter, compared to the consensus estimate of $158.75 million. Franco-Nevada Corporation had a net margin of 21.17% and a return on equity of 4.35%. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, analysts predict that Franco-Nevada Corporation will post $0.97 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This article was first reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://transcriptdaily.com/2017/07/20/franco-nevada-corporation-fnv-given-a-78-00-price-target-by-credit-suisse-group-analysts.html.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were paid a $0.23 dividend. This is a positive change from Franco-Nevada Corporation’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Tuesday, June 13th. Franco-Nevada Corporation’s dividend payout ratio is currently 121.05%.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake in Franco-Nevada Corporation by 15.7% in the first quarter. Bank of Montreal Can now owns 6,857,037 shares of the basic materials company’s stock valued at $449,204,000 after buying an additional 931,206 shares in the last quarter. Van ECK Associates Corp raised its stake in Franco-Nevada Corporation by 6.6% in the first quarter. Van ECK Associates Corp now owns 10,773,637 shares of the basic materials company’s stock valued at $705,781,000 after buying an additional 666,196 shares in the last quarter. Vanguard Group Inc. raised its stake in Franco-Nevada Corporation by 4.9% in the first quarter. Vanguard Group Inc. now owns 4,076,074 shares of the basic materials company’s stock valued at $267,023,000 after buying an additional 189,705 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Franco-Nevada Corporation by 15.2% in the first quarter. Great West Life Assurance Co. Can now owns 1,389,027 shares of the basic materials company’s stock valued at $90,859,000 after buying an additional 183,038 shares in the last quarter. Finally, Addenda Capital Inc. raised its stake in Franco-Nevada Corporation by 94.5% in the first quarter. Addenda Capital Inc. now owns 339,245 shares of the basic materials company’s stock valued at $22,157,000 after buying an additional 164,785 shares in the last quarter. 62.92% of the stock is owned by institutional investors and hedge funds.

About Franco-Nevada Corporation

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.

Analyst Recommendations for Franco-Nevada Corporation (NYSE:FNV)

Receive News & Ratings for Franco-Nevada Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply