Franco-Nevada (NYSE:FNV) Sees Large Volume Increase – Here’s Why

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) shares saw an uptick in trading volume on Tuesday . 1,255,940 shares traded hands during trading, an increase of 90% from the previous session’s volume of 661,228 shares.The stock last traded at $122.71 and had previously closed at $121.37.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FNV shares. Jefferies Financial Group cut their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, HC Wainwright increased their price target on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price of $152.83.

Franco-Nevada Stock Up 2.2 %

The company has a 50 day moving average of $125.67 and a two-hundred day moving average of $123.67. The firm has a market cap of $23.87 billion, a P/E ratio of -38.41 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same quarter last year, the business posted $0.91 EPS. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. Research analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNV. Mather Group LLC. acquired a new position in Franco-Nevada during the second quarter valued at approximately $33,000. QV Investors Inc. raised its holdings in Franco-Nevada by 24.6% in the 2nd quarter. QV Investors Inc. now owns 249,909 shares of the basic materials company’s stock worth $29,624,000 after acquiring an additional 49,308 shares during the period. ORG Partners LLC acquired a new position in Franco-Nevada during the 2nd quarter worth $79,000. Addenda Capital Inc. boosted its holdings in Franco-Nevada by 85.7% during the second quarter. Addenda Capital Inc. now owns 104,369 shares of the basic materials company’s stock valued at $12,370,000 after acquiring an additional 48,160 shares during the period. Finally, Clear Harbor Asset Management LLC grew its position in shares of Franco-Nevada by 1.2% in the second quarter. Clear Harbor Asset Management LLC now owns 11,831 shares of the basic materials company’s stock valued at $1,402,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.