Todays Report: The Vetr Inc. Downgrades Franco-Nevada Corp. (FNV) to Hold

The Vetr Inc. Downgrades Franco-Nevada Corp. (FNV) to Hold

Vetr lowered shares of Franco-Nevada Corp. (NYSE:FNV) from a buy rating to a hold rating in a report published on Monday morning. Vetr currently has $65.43 price objective on the stock.

A number of other research analysts also recently commented on the company. TheStreet upgraded Franco-Nevada Corp. from a hold rating to a buy rating in a research note on Tuesday, August 9th. Zacks Investment Research downgraded Franco-Nevada Corp. from a buy rating to a hold rating in a research note on Tuesday, September 13th. Barclays PLC upped their price objective on Franco-Nevada Corp. from $65.00 to $75.00 and gave the stock an equal weight rating in a research note on Monday, August 8th. Deutsche Bank AG upgraded Franco-Nevada Corp. from a sell rating to a hold rating and upped their price objective for the stock from $62.00 to $74.00 in a research note on Friday, September 9th. Finally, BMO Capital Markets set a $108.00 price objective on Franco-Nevada Corp. and gave the stock a hold rating in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. Franco-Nevada Corp. presently has a consensus rating of Hold and a consensus target price of $69.11.

Franco-Nevada Corp. (NYSE:FNV) opened at 64.62 on Monday. The stock has a market cap of $11.51 billion, a PE ratio of 191.18 and a beta of 0.18. The stock has a 50 day moving average price of $70.03 and a 200-day moving average price of $70.58. Franco-Nevada Corp. has a 12 month low of $41.47 and a 12 month high of $81.16.

Franco-Nevada Corp. (NYSE:FNV) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. Franco-Nevada Corp. had a return on equity of 3.02% and a net margin of 11.05%. The business earned $150.90 million during the quarter, compared to the consensus estimate of $149.36 million. During the same period in the previous year, the business earned $0.15 EPS. The business’s quarterly revenue was up 37.9% on a year-over-year basis. On average, analysts expect that Franco-Nevada Corp. will post $0.90 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 1.36%. Franco-Nevada Corp.’s dividend payout ratio (DPR) is 275.00%.

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of Franco-Nevada Corp. by 1,114.7% in the first quarter. Wellington Management Group LLP now owns 650,463 shares of the company’s stock valued at $39,974,000 after buying an additional 596,914 shares during the period. Prudential PLC raised its stake in shares of Franco-Nevada Corp. by 45.5% in the first quarter. Prudential PLC now owns 1,806,912 shares of the company’s stock valued at $110,908,000 after buying an additional 565,310 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Franco-Nevada Corp. by 7.7% in the first quarter. Goldman Sachs Group Inc. now owns 583,427 shares of the company’s stock valued at $35,811,000 after buying an additional 41,629 shares during the period. AXA raised its stake in shares of Franco-Nevada Corp. by 34.9% in the first quarter. AXA now owns 46,499 shares of the company’s stock valued at $2,867,000 after buying an additional 12,032 shares during the period. Finally, PCJ Investment Counsel Ltd. raised its stake in shares of Franco-Nevada Corp. by 10,136.3% in the first quarter. PCJ Investment Counsel Ltd. now owns 578,350 shares of the company’s stock valued at $35,664,000 after buying an additional 572,700 shares during the period. Institutional investors and hedge funds own 64.49% of the company’s stock.

Franco-Nevada Corp. Company Profile

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.

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