Insider Selling: Franco-Nevada Co. (FNV) Director Sells C$496,650.00 in Stock
Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) Director David Harquail sold 5,000 shares of Franco-Nevada stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of C$99.33, for a total value of C$496,650.00.
Shares of Franco-Nevada Co. (FNV) opened at C$97.91 on Friday. Franco-Nevada Co. has a 1-year low of C$73.26 and a 1-year high of C$110.18.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be issued a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.21%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, December 6th. Franco-Nevada’s payout ratio is currently 87.38%.
Several equities analysts have weighed in on the company. Canaccord Genuity lifted their target price on Franco-Nevada from C$114.00 to C$118.00 in a research note on Friday, September 29th. National Bank Financial lifted their target price on Franco-Nevada from C$100.00 to C$107.50 and gave the company a “sector perform” rating in a research note on Tuesday, November 7th. Desjardins reaffirmed a “sell” rating on shares of Franco-Nevada in a research note on Monday, December 11th. Scotiabank lifted their target price on Franco-Nevada to C$108.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 7th. Finally, CIBC lifted their target price on Franco-Nevada from C$110.00 to C$120.00 in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Franco-Nevada currently has an average rating of “Hold” and a consensus price target of C$109.06.
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Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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