Barclays Begins Coverage on Franco Nevada (FNV)

Share on StockTwits

Barclays initiated coverage on shares of Franco Nevada (NYSE:FNV) (TSE:FNV) in a report issued on Wednesday, The Fly reports. The brokerage issued an overweight rating and a $70.00 price target on the basic materials company’s stock.

Other research analysts also recently issued research reports about the stock. TD Securities set a $93.00 price target on shares of Franco Nevada and gave the stock a buy rating in a research note on Tuesday, August 7th. Desjardins raised shares of Franco Nevada from a sell rating to a hold rating in a research note on Saturday, October 6th. Deutsche Bank set a $74.00 price target on shares of Franco Nevada and gave the stock a hold rating in a research note on Tuesday, October 2nd. ValuEngine raised shares of Franco Nevada from a sell rating to a hold rating in a research note on Tuesday, September 18th. Finally, Macquarie downgraded shares of Franco Nevada from an outperform rating to a neutral rating in a research note on Tuesday, July 10th. One equities research 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. The company currently has an average rating of Hold and an average target price of $88.89.

FNV stock traded down $0.19 during trading on Wednesday, hitting $66.06. The company had a trading volume of 1,229,342 shares, compared to its average volume of 617,302. The company has a market capitalization of $11.65 billion, a PE ratio of 61.17, a P/E/G ratio of 13.09 and a beta of -0.18. Franco Nevada has a 52-week low of $58.26 and a 52-week high of $86.06.

Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, August 8th. The basic materials company reported $0.29 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The company had revenue of $161.30 million for the quarter, compared to the consensus estimate of $169.46 million. Franco Nevada had a net margin of 32.94% and a return on equity of 4.80%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. As a group, analysts predict that Franco Nevada will post 1.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Shareholders of record on Thursday, September 13th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Wednesday, September 12th. Franco Nevada’s dividend payout ratio (DPR) is 88.89%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its position in Franco Nevada by 128.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,600 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 900 shares during the period. Wells Fargo & Company MN increased its position in Franco Nevada by 6.8% during the 1st quarter. Wells Fargo & Company MN now owns 14,654 shares of the basic materials company’s stock valued at $1,002,000 after purchasing an additional 939 shares during the period. BlackRock Inc. increased its position in Franco Nevada by 1.1% during the 1st quarter. BlackRock Inc. now owns 117,074 shares of the basic materials company’s stock valued at $8,007,000 after purchasing an additional 1,282 shares during the period. Tuttle Tactical Management purchased a new position in Franco Nevada during the 2nd quarter valued at about $111,000. Finally, Marathon Asset Management LLP increased its position in Franco Nevada by 0.7% during the 2nd quarter. Marathon Asset Management LLP now owns 280,783 shares of the basic materials company’s stock valued at $20,483,000 after purchasing an additional 1,966 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

About Franco Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.

See Also: Compound Annual Growth Rate (CAGR)

The Fly

Analyst Recommendations for Franco Nevada (NYSE:FNV)

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

Leave a Reply