Franco-Nevada (TSE:FNV) Stock Price Down 7.7%

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) shares were down 7.7% on Wednesday . The company traded as low as C$157.43 and last traded at C$158.11. Approximately 211,175 shares were traded during trading, a decline of 38% from the average daily volume of 341,830 shares. The stock had previously closed at C$171.31.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FNV. Canaccord Genuity Group upped their price objective on Franco-Nevada from C$177.00 to C$190.00 in a research report on Tuesday, July 23rd. Stifel Nicolaus upped their price objective on shares of Franco-Nevada from C$182.00 to C$196.00 and gave the company a “buy” rating in a research note on Friday, April 19th. BMO Capital Markets raised 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. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Raymond James increased their target price on Franco-Nevada from C$150.00 to C$151.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$192.18.

Franco-Nevada Trading Up 1.2 %

The firm has a market cap of C$32.05 billion, a price-to-earnings ratio of -48.17, a price-to-earnings-growth ratio of 5.00 and a beta of 0.62. The company has a quick ratio of 23.26, a current ratio of 29.40 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average price of C$167.66 and a 200-day moving average price of C$162.13.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a $0.497 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.99 dividend on an annualized basis and a yield of 1.19%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.49. Franco-Nevada’s dividend payout ratio is currently -57.23%.

Insider Activity at Franco-Nevada

In related news, Director Catharine Elizabeth Goddard Farrow sold 20,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of C$171.78, for a total value of C$3,435,562.00. Following the completion of the transaction, the director now owns 301 shares of the company’s stock, valued at C$51,705.21. In other Franco-Nevada news, Director Catharine Elizabeth Goddard Farrow sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of C$171.78, for a total transaction of C$3,435,562.00. Following the transaction, the director now owns 301 shares of the company’s stock, valued at approximately C$51,705.21. Also, Director Paul Brink sold 13,076 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of C$170.21, for a total value of C$2,225,654.19. Over the last 90 days, insiders sold 33,606 shares of company stock valued at $5,747,182. 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.