Franco Nevada (TSE:FNV) Given New C$133.00 Price Target at Bank of America

Franco Nevada (TSE:FNV) (NYSE:FNV) had its price target increased by Bank of America from C$128.50 to C$133.00 in a research note released on Friday, BayStreet.CA reports.

FNV has been the subject of a number of other reports. Eight Capital cut Franco Nevada from a buy rating to a neutral rating and upped their price target for the company from C$110.00 to C$125.00 in a research note on Thursday, August 8th. Royal Bank of Canada reaffirmed a sector perform rating on shares of Franco Nevada in a research note on Thursday, August 8th. National Bank Financial upped their price target on Franco Nevada from C$127.50 to C$130.00 and gave the company a sector perform rating in a research note on Thursday, August 8th. Canaccord Genuity upped their price target on Franco Nevada from C$125.00 to C$127.00 in a research note on Friday, July 19th. Finally, CIBC upped their price target on Franco Nevada from C$120.00 to C$125.00 in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and an average price target of C$124.86.

Shares of FNV stock opened at C$123.43 on Friday. The company has a debt-to-equity ratio of 9.06, a current ratio of 2.67 and a quick ratio of 2.49. The stock has a market cap of $22.82 billion and a PE ratio of 153.52. The stock has a 50-day moving average of C$117.22 and a 200-day moving average of C$105.08. Franco Nevada has a one year low of C$76.53 and a one year high of C$127.92.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.88%. This is a boost from Franco Nevada’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, September 11th. Franco Nevada’s dividend payout ratio is presently 120.65%.

In related news, Director David Harquail sold 45,914 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$123.86, for a total transaction of C$5,686,908.04. Following the completion of the sale, the director now directly owns 1,007,057 shares of the company’s stock, valued at approximately C$124,734,080.02. Also, Director Charles Thomas Ogryzlo sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$121.27, for a total value of C$1,212,680.00. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at C$121,268. Over the last three months, insiders have sold 103,914 shares of company stock valued at $12,351,443.

Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.

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Analyst Recommendations for Franco Nevada (TSE:FNV)

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