Franco Nevada Corp (FNV) Given Average Recommendation of “Hold” by Analysts

Shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) have been given an average rating of “Hold” by the twelve ratings firms that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $85.80.

Several brokerages recently commented on FNV. Zacks Investment Research downgraded shares of Franco Nevada from a “buy” rating to a “hold” rating in a research report on Thursday. Raymond James reissued an “outperform” rating and set a $88.00 price objective on shares of Franco Nevada in a research report on Monday, February 11th. BMO Capital Markets reissued a “hold” rating on shares of Franco Nevada in a research report on Monday, December 17th. Royal Bank of Canada reissued a “buy” rating and set a $118.00 price objective on shares of Franco Nevada in a research report on Wednesday, December 12th. Finally, ValuEngine raised shares of Franco Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Franco Nevada by 6.9% during the 4th quarter. FMR LLC now owns 12,108,236 shares of the basic materials company’s stock valued at $849,049,000 after acquiring an additional 781,761 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Franco Nevada by 0.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 5,571,025 shares of the basic materials company’s stock valued at $348,729,000 after acquiring an additional 30,338 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Franco Nevada by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,087,608 shares of the basic materials company’s stock valued at $318,230,000 after acquiring an additional 142,999 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Franco Nevada by 2.9% during the 3rd quarter. Vanguard Group Inc now owns 5,087,608 shares of the basic materials company’s stock valued at $318,230,000 after acquiring an additional 142,999 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in shares of Franco Nevada by 1.3% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,892,837 shares of the basic materials company’s stock worth $20,291,000 after purchasing an additional 37,085 shares during the period. 66.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Franco Nevada stock traded up $0.61 during trading on Friday, hitting $76.75. The company’s stock had a trading volume of 1,218,499 shares, compared to its average volume of 524,637. The firm has a market cap of $14.36 billion, a price-to-earnings ratio of 71.06, a PEG ratio of 14.96 and a beta of 0.13. Franco Nevada has a 52 week low of $58.26 and a 52 week high of $78.82.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Wednesday, March 13th. Franco Nevada’s payout ratio is presently 88.89%.

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.

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Analyst Recommendations for Franco Nevada (NYSE:FNV)

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