Franco-Nevada (TSE:FNV) Given New C$235.00 Price Target at CIBC

Franco-Nevada (TSE:FNV) (NYSE:FNV) had its price objective reduced by CIBC from C$265.00 to C$235.00 in a report published on Friday morning,BayStreet.CA reports.

FNV has been the subject of a number of other reports. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their target price on shares of Franco-Nevada from C$200.00 to C$210.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Canaccord Genuity Group raised their price target on shares of Franco-Nevada from C$177.00 to C$190.00 in a report on Tuesday, July 23rd. National Bankshares decreased their price objective on shares of Franco-Nevada from C$200.00 to C$195.00 in a report on Thursday, August 15th. Finally, Stifel Nicolaus raised their target price on Franco-Nevada from C$200.00 to C$215.00 in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$189.80.

Franco-Nevada Stock Performance

FNV stock traded down C$4.83 during trading on Friday, reaching C$170.39. 416,340 shares of the company’s stock were exchanged, compared to its average volume of 330,980. The company’s fifty day moving average price is C$172.43 and its 200-day moving average price is C$169.44. The firm has a market cap of C$32.79 billion, a PE ratio of -40.67, a P/E/G ratio of 5.00 and a beta of 0.68. The company has a quick ratio of 23.26, a current ratio of 29.11 and a debt-to-equity ratio of 1.63. Franco-Nevada has a 1-year low of C$139.19 and a 1-year high of C$191.17.

Franco-Nevada (TSE:FNV) (NYSE:FNV) last released its earnings results on Tuesday, August 13th. The company reported C$1.03 EPS for the quarter, missing analysts’ consensus estimates of C$1.07 by C($0.04). The business had revenue of C$355.88 million during the quarter. Franco-Nevada had a negative return on equity of 9.32% and a negative net margin of 51.92%. On average, research analysts expect that Franco-Nevada will post 3.1114111 EPS for the current fiscal year.

Franco-Nevada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.487 dividend. This represents a $1.95 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is currently -46.30%.

Insider Transactions at Franco-Nevada

In related news, Director Nicholas Hugo Housby Dryland bought 805 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average price of C$168.95 per share, with a total value of C$136,001.53. Following the completion of the transaction, the director now owns 805 shares of the company’s stock, valued at C$136,001.53. Corporate insiders own 0.69% of the company’s stock.

About Franco-Nevada

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.