Franco-Nevada (NYSE:FNV) Shares Gap Down - Should You Sell?

Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV shares gapped down before the market opened on Monday . The stock had previously closed at $169.23, but opened at $162.16. Franco-Nevada shares last traded at $160.78, with a volume of 161,074 shares trading hands.

Analyst Upgrades and Downgrades

FNV has been the subject of a number of recent analyst reports. Raymond James raised their price target on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Scotiabank raised their price target on shares of Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a report on Monday. HC Wainwright raised their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. TD Securities lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a report on Tuesday, March 11th. Finally, StockNews.com raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.75.

Franco-Nevada Stock Performance

The company's 50 day moving average price is $159.01 and its 200-day moving average price is $138.87. The company has a market cap of $30.54 billion, a price-to-earnings ratio of -50.18, a PEG ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm's quarterly revenue was up 43.5% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. As a group, sell-side analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, June 12th. Franco-Nevada's payout ratio is presently 47.50%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FNV. Covea Finance grew its position in Franco-Nevada by 2.7% in the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company's stock worth $11,895,000 after acquiring an additional 2,700 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Franco-Nevada by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock worth $49,702,000 after acquiring an additional 16,029 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Franco-Nevada by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock worth $113,200,000 after buying an additional 45,495 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Franco-Nevada by 113.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company's stock worth $601,000 after buying an additional 2,710 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Franco-Nevada in the fourth quarter worth $12,280,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.

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