Artemis Investment Management LLP lowered its stake in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 11.6% during the third quarter, Holdings Channel reports. The institutional investor owned 851,515 shares of the basic materials company’s stock after selling 111,521 shares during the period. Franco Nevada comprises about 1.1% of Artemis Investment Management LLP’s portfolio, making the stock its 21st biggest position. Artemis Investment Management LLP’s holdings in Franco Nevada were worth $77,528,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in FNV. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Franco Nevada in the second quarter valued at approximately $51,000. Advisory Services Network LLC raised its position in shares of Franco Nevada by 20.6% in the first quarter. Advisory Services Network LLC now owns 879 shares of the basic materials company’s stock valued at $66,000 after buying an additional 150 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of Franco Nevada by 24.2% in the second quarter. Riverhead Capital Management LLC now owns 1,025 shares of the basic materials company’s stock valued at $84,000 after buying an additional 200 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Franco Nevada in the second quarter valued at approximately $85,000. Finally, Tyers Asset Management LLC raised its position in shares of Franco Nevada by 17.6% in the second quarter. Tyers Asset Management LLC now owns 1,392 shares of the basic materials company’s stock valued at $114,000 after buying an additional 208 shares during the last quarter. 63.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on FNV. JPMorgan Chase & Co. boosted their price objective on shares of Franco Nevada from $110.00 to $117.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. GMP Securities lowered shares of Franco Nevada from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Securities upped their price target on shares of Franco Nevada from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Barclays set a $89.00 price target on shares of Franco Nevada and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Franco Nevada in a research report on Friday, August 23rd. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $98.65.
Shares of Franco Nevada stock traded up $0.72 during trading hours on Thursday, hitting $96.25. The company’s stock had a trading volume of 32,783 shares, compared to its average volume of 630,565. Franco Nevada Corp has a 1-year low of $60.47 and a 1-year high of $101.19. The business has a fifty day moving average of $94.87 and a 200 day moving average of $83.82. The company has a market capitalization of $17.94 billion, a PE ratio of 80.69, a P/E/G ratio of 14.86 and a beta of -0.03. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.06.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Franco Nevada had a net margin of 22.42% and a return on equity of 4.83%. The company had revenue of $170.50 million during the quarter, compared to analyst estimates of $175.55 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Franco Nevada Corp will post 1.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a $0.439 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.82%. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.25. Franco Nevada’s dividend payout ratio is presently 85.47%.
Franco Nevada 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.
Further Reading: Price-Sales Ratio
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