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

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

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

Franco-Nevada Price Performance

FNV opened at C$164.07 on Friday. The stock has a fifty day simple moving average of C$172.43 and a two-hundred day simple moving average of C$169.49. The company has a current ratio of 29.11, a quick ratio of 23.26 and a debt-to-equity ratio of 1.63. The company has a market cap of C$31.57 billion, a price-to-earnings ratio of -40.67, a price-to-earnings-growth ratio of 5.00 and a beta of 0.68. Franco-Nevada has a 12-month low of C$139.19 and a 12-month 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). Franco-Nevada had a negative return on equity of 9.32% and a negative net margin of 51.92%. The company had revenue of C$355.88 million during the quarter. Research analysts predict that Franco-Nevada will post 3.1114111 earnings per share for the current fiscal year.

Franco-Nevada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.487 dividend. This represents a $1.95 annualized dividend and a dividend yield of 1.19%. 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 acquired 805 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of C$168.95 per share, with a total value of C$136,001.53. Following the completion of the purchase, the director now directly owns 805 shares of the company’s stock, valued at C$136,001.53. Corporate insiders own 0.69% 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.