Franco Nevada Corp (FNV) Hits New 52-Week High on Analyst Upgrade

Shares of Franco Nevada Corp (TSE:FNV) (NYSE:FNV) reached 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 trading hands. The stock had previously closed at C$106.50.

Other analysts have also issued research reports about the stock. CIBC boosted their target price on shares of Franco Nevada Corp from C$110.00 to C$120.00 in a research note on Tuesday, November 7th. Canaccord Genuity upped their price target on shares of Franco Nevada Corp from C$119.00 to C$121.00 in a research report on Tuesday, November 7th. Bank of America Corporation upped their price target on shares of Franco Nevada Corp from C$107.00 to C$110.00 in a research report on Friday, September 8th. TD Securities upped their price target on shares of Franco Nevada Corp to C$123.50 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Finally, Scotiabank upped their price target on shares of Franco Nevada Corp to C$108.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Franco Nevada Corp has a consensus rating of “Hold” and a consensus price target of C$109.00.

In other news, insider Kerry Elwyn Sparkes sold 643 shares of the company’s stock in a transaction dated 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be issued a $0.296 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.18 annualized dividend and a yield of 1.10%. This is an increase from Franco Nevada Corp’s previous quarterly dividend of $0.23. Franco Nevada Corp’s dividend payout ratio is presently 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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